Now that we're a couple of weeks into the New Year, did you set any resolutions? And have you kept them? Today, popular New Year’s resolutions include “I will go to the gym 3 times a week”; “I will lose 2 stones”; “I will spend less”; “I will quit smoking”; I will get a better job”; the list can just go on. Although you may not have included estate planning as one of your New Year’s resolutions, here are 6 top reasons why having a Will and Power of Attorney should be at the top of your list to do:
- You decide who will make medical and health-care decisions for you in the event you are incapable of making those decisions for yourself. If you don’t have a valid Power of Attorney, the law decides who will make the medical decisions for you.
- You decide who can deal with your assets in the event you are unable or incapable of making those decisions yourself. If you don’t have a valid Power of Attorney, the government may act for you or may decide who can act for you.
- You can decide how your assets that you have worked so hard to earn will be divided upon your death. If you die without a Will, the law decides who will inherit your assets. These may not be the individuals you would have chosen, i.e. your partner. This may result in upset in the family, financial hardship and possible costly litigation.
- You can name who you want to inherit those items that have great sentimental value.
- Not everyone has family members that they want to leave their assets to and, instead, you can leave your assets to specific charities or friends.
- Overall, you can achieve peace of mind, knowing that your loved ones will be provided for in the best way possible.
At McEwan Fraser Legal, our highly experienced Private Client Team are here to guide you through the whole process ensuring your wishes are fully included in your Will and Power of Attorney in that way giving you absolute peace of mind. So, make 2017 the year you take control. Make this the year you make your Will and your lasting Power of Attorney.
Please call us on 0131 524 9797 to speak to a member of the Private Client Team