Are you resolved?
If I tell you that my Will writing business got rather busy during the Covid-19 pandemic, I doubt I’d surprise you. But yet, millions of UK citizens STILL don’t have up-to-date Wills and LPAs – lasting power of attorney. Indeed, back in 2020, Canada Life UK reported that 31 million UK adults don’t have a Will in place. And, despite my best efforts over the last two years, I guarantee that number remains far too high. So I have a question for you: are you resolved to make 2023 the year you either get your Will and/or lasting power of attorney drawn up? Or updated if you already have them?
Why does it matter so much?
Even if you feel your possessions are not great in either number or value and you don’t have much money, it’s still important to make a Will. Why? Because, if you die intestate (without a Will) rules come into force that dictate how your money, property, and possessions get dealt with.
What’s the disadvantage of not having a will?
If you have no Will then there’s a danger that your estate won’t be divided in a tax-effective way. And that could mean an avoidable tax bill. It could also mean young relatives inherit large sums without proper oversight or protection.
In my blog from this time last year, Make 2022 the year you make your Will, I outlined eight ways that having an up-to-date Will puts you in control. Have a read and give me a call – contact details at the bottom of the page. You might have escaped the Omicron variant but you could still trip over the novelty slippers that Father Christmas left for you!
Lasting Powers of Attorney
The other thing I’m asking “are you resolved” to do, is getting a lasting power of attorney set up. Either for yourself or for your parents. In this post, Why Your Parents Need a Lasting Power of Attorney, I explained why. And what applies to them applies also to you.
Were you to ask me why you or your parents should bother with a lasting power of attorney I’d answer in three words: peace of mind. Peace of mind for all concerned in fact.
For anyone setting up an LPA, what it brings is the knowledge and reassurance that someone you, or your parents, trust, is taking charge of their affairs.
Thus, as I said in the aforementioned blog, if you hold the position of adult offspring and your parents haven’t yet got an LPA set up then you must talk to them. And the sooner the better. Because one never knows does one?!
I have more information on lasting powers of attorney on my website here – including a guide to what it costs. I also have some lasting power of attorney FAQs and you’ll find those here. Also, the Office of the Public Guardian explains LPAs in great detail and is user-friendly.
Where can I get more information from you?
There are several ways you or your parents can get in touch with me. I’m ever happy to chat and offer initial advice – whether that be about LPAs or Wills.
In the first instance, you can send a message via my webform here.
Of course, if you or they prefer, I’m reachable by phone on 07538946839. Or you can email me at firstname.lastname@example.org
If you’re the social sort why not check me out on social media? You’ll find client reviews there and more. You’ll find me on Facebook here. Or LinkedIn here. And last but not least, if you’re an Instagrammer you can find me here.