A New Year Resolution to protect yourself and your family
Published: 23 January 2018
Entering a New Year is always a good time to take stock - of our careers, our work and, of course, our lives in general.
the centre of it all must be our families; everyone wants to protect their
loved ones, both now and in the future.
are many ways to do this and the law can certainly play its part. The most
obvious things are to make a Will and to consider setting up a Lasting Power of
a Will is the best way to ensure that your wealth is passed on in the way you
many people never get around to doing it, which means they are said to have
that is the case, their wishes will not be known, and their Estate will be
divided in a way laid down by law. It means their money may not go to the
people they would have chosen themselves.
there is no Will, children, grandchildren and even surviving spouses may have
to take legal action to receive the inheritance to which they believe they are
entitled. Every week in the courts there are cases involving families who are
in dispute because someone dear to them failed to make a Will.
you already have a Will, make sure that it is up to date. If it was made
several years ago it may no longer reflect your current circumstances,
especially if you have divorced and remarried.
solicitor can make the process quick and easy while ensuring that all the
paperwork is carried out properly in accordance with the law.
making your Will you could also consider creating a Lasting Power of Attorney (“LPA”)
to protect your interests in case your health and mental capacity deteriorate.
LPAs enable you to nominate someone such as a family
member or trusted associate to make decisions on your behalf if you ever lose
the ability to do so yourself in the future through illnesses such as dementia.
Property & Finance LPA allows you to appoint someone to look after your
financial affairs and the Personal Welfare LPA lets you grant an Attorney
authority over such matters as health care and the kind of treatment you
are safeguards to prevent the system being abused so you can prepare for the
possibility of ill health secure in the knowledge that you can leave important
decisions in the hands of someone you trust.
you don’t have such arrangements in place, your family may have to go through
complicated and time-consuming legal processes just to get the authority to
help run your affairs for you. That is the last thing they want at a time when
they will already be worried about you and your failing health.
should be drawn up with the help of a solicitor to ensure that they accurately
express your wishes and protect your interests.
one can be sure what the future will bring them in terms of their health, but
LPAs can at least ensure that their interests are protected should the worst
Please contact Claire Trueman or Rosalind Burton in our Private Client Team if you would like more information about making a Will or creating a LPA.