Reflecting on Wills and Lasting Powers of Attorney After the Festive Season
The festive period is a time when families come together, often providing rare opportunities to connect and discuss important matters.
As we gather around the dinner table or reminisce with relatives, it’s natural to reflect on the future and the importance of planning ahead. One crucial yet often overlooked conversation is about Wills and Lasting Powers of Attorney (LPAs).
In this blog, we’ll explore why the holiday season is the perfect time to address these topics, what they entail, and how they can provide peace of mind for you and your loved ones.
Understanding Wills: Securing Your Legacy
A Will is a legal document that ensures your wishes are followed after your death. Without one, your estate will be distributed according to the rules of intestacy, which may not align with your preferences. For many, spending time with family during Christmas highlights the importance of leaving a legacy that reflects your values and ensures your loved ones are cared for.
Key Considerations When Making a Will
- Choosing Executors: These are the individuals responsible for managing your estate. Consider who is best placed to handle this responsibility.
- Beneficiaries: Clearly outline who should inherit your assets, whether family members, friends, or charities.
- Guardianship for Minors: If you have children under 18, appointing a guardian is essential to ensure their well-being.
- Updating Regularly: Family circumstances, such as births, marriages, or divorces, may require revisions to your Will.
The Role of Lasting Powers of Attorney (LPAs)
While Wills dictate what happens after death, LPAs are about planning for life. An LPA allows you to appoint someone you trust to make decisions on your behalf if you lose the capacity to do so. This could be due to illness, injury, or age-related conditions like dementia.
Types of LPAs
- Health and Welfare LPA: This grants your attorney authority over personal matters, such as medical care, daily routines, and living arrangements.
- Property and Financial Affairs LPA: This covers financial decisions, including managing bank accounts, paying bills, and handling property transactions.
Why the Festive Period is the Right Time for These Conversations
- Family Presence: Christmas often brings together the people most likely to be involved in carrying out your wishes. Use this time to discuss your plans and gather input.
- Reflecting on Health: Spending time with relatives can highlight the importance of planning for unforeseen health issues.
- Avoiding Future Disputes: Clear communication now can prevent misunderstandings or disputes later.
Barriers to Planning and How to Overcome Them
Discussing Wills and LPAs can feel uncomfortable, but avoiding the topic could leave your family vulnerable to unnecessary stress and legal complications. Common barriers include:
- Emotional Sensitivity: Frame the conversation as a way to protect your loved ones, not as a morbid topic.
- Procrastination: Start with small steps, such as making a list of your assets or choosing potential attorneys.
- Lack of Understanding: Seek professional advice to demystify the process and ensure your documents are legally sound.
How We Can Help
At Bell Lamb & Joynson Solicitors, we understand the challenges of planning for the future. Our team offers expert advice tailored to your unique circumstances, ensuring your Will and LPAs provide the protection and clarity your family deserves.
Our Services Include:
- Drafting and updating Wills
- Advising on estate planning and inheritance tax
- Preparing and registering Lasting Powers of Attorney
- Fixed-fee options and flexible payment plans
- Same-day appointments for urgent matters
Start the Conversation Today
The start of the new year is the perfect time to act on your intentions. If you’ve been reflecting on the future after spending time with relatives this Christmas, don’t delay in making plans.
Contact us on 03444 124 348, complete our online enquiry form, or use our 24/7 live chat service to schedule a consultation. Let us help you secure peace of mind for the years ahead.