The importance of having a Will and Power of Attorney

Sex, body image and hard conversations we dread
Many legal documents exist to protect you. Both a will and a Power of Attorney (POA) will
ensure that in the event of illness or death, your wishes will be carried out and your interests will be protected.

The importance of a POA

A POA will help you should your mental powers deteriorate, and you find it is becoming
increasingly difficult to manage your financial affairs. In the UK, one in three over 65s develop dementia – as a pro-active move, you can nominate someone you trust and they can act on your behalf in your later years.
Therefore, it’s a good idea to visit some legal specialists, including Vanner Perez Notaries, who can clarify the process and help you set up your POA in advance of any serious health conditions which might make it difficult for you to take responsibility for your
finances. The financial advice website Money Saving Expert suggests that it’s always a good idea to set up a POA as you, ‘can only set up a POA when you have mental
capacity. Once you’ve lost capacity, it’s too late.’

You should always make a will

Wills aren’t just for older members of society. If you own property, or have belongings
that are of value and want to leave these to someone you love in theevent of your death,  then a will ensures that your wishes are carried out. Car accidents, terminal illness and other tragedies can affect members of all age groups and this is why making a will is so
important.
You can also leave instructions about your funeral and wake in your will. For example,
if you want a particular piece of music played at your funeral service, then write this down. Speaking in The Daily Mail recently, the actress Joanna Lumley has stressed the importance of will making. She wants to be buried in a cardboard box filled ‘with items such as books, some feathers and nice bits and pieces.’

Wills are important for all

A recent article in The Guardian highlighted the problems that can arise for those in a common law partnership. If one partner dies and hasn’t made a will, then their possessions will go to their blood relatives, rather than their partner. ‘Under current rules, co-habitees have no automatic tight to receive a penny – regardless of how long they have lived together or even if they have children.’
If your house is only in one partner’s name, the matter becomes even more complicated.
The only way to ensure that part, or all, of your estate will go to your partner is to marry them, or make a will. Those in a civil partnership are protected if one partner dies without leaving a will, and new laws on intestacy recognise this.

Protect your wishes

If you make a will or a POA when you are in good health, you’ll be confident that should
the worst happen, your wishes will be protected, and your loved ones will be clear about how to carry them out. These types of legal document are often the best way to prevent argument and second-guessing, if no one is quite sure what you want and you’re
unable to tell them.

 

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