As we journey through life, planning for the future becomes increasingly important.
Every adult has the right to control their affairs, whether managing finances or making healthcare decisions. However, as we age, factors such as illness, disability, or unexpected accidents can diminish our ability to handle these responsibilities.
By planning ahead, you can ensure your wishes are respected and ease the burden on your loved ones.
One of the most essential steps in future planning is writing a will.
A will is a legal document that allows you to dictate how your assets should be distributed after your death. Beyond asset distribution, it can also include provisions for guardianship of minor children, funeral arrangements, and donations to charities. Without a will, the laws of intestacy determine how your estate is divided, which may not align with your personal preferences.
Seeking legal advice from a solicitor is a wise first step in getting your affairs in order. A solicitor can guide you through drafting a will, ensuring it is legally valid and reflects your intentions. Furthermore, they can help you appoint an executor – someone you trust to ensure your wishes are carried out according to your will.
In some cases, you may want to plan for the possibility of being unable to manage your finances or make health decisions. A solicitor can assist you in establishing a power of attorney. This legal arrangement authorises a trusted individual to act on your behalf in financial or health-related matters if you become incapacitated. This foresight can prevent confusion and ensure that decisions are made in your best interests when you’re unable to make them yourself.
Taking these proactive steps secures your future and reduces stress for your family members and caregivers. Without clear instructions, your loved ones could face difficult decisions about your care or finances. Appointing someone to handle your affairs in advance avoids potential conflicts and simplifies the decision-making process.
If you find yourself or a loved one already incapacitated and without prior legal arrangements, it may be necessary to involve the Court of Protection. This court is responsible for managing the affairs of individuals who cannot do so themselves.
A solicitor can guide how to proceed in such cases and ensure that the court’s decisions reflect the incapacitated person’s best interests.
To prepare for a meeting with a solicitor, there are a few key details you’ll need to provide:
- Whether you have already made a will.
- Who would you like to handle your financial or medical decisions if necessary?
- A list of your assets, income, and any specific wishes regarding their distribution.
- Information about any medical conditions that could impact your ability to manage your affairs (you may need permission from your solicitor to speak with your doctor).
Ultimately, planning is a gift to yourself and those closest to you. Taking the time to get your affairs in order ensures your wishes are respected and provides peace of mind for you and your loved ones.
If this article has inspired you to think about your unique situation and, more importantly, what you and your family are going through right now, please get in touch with your advice professional.
This information does not consider any person’s objectives, financial situation, or needs. Before making a decision, you should consider whether it is appropriate in light of your particular objectives, financial situation, or needs.
(Feedsy Exclusive)
