Wills & Lasting Power of Attorney

Wills & Lasting Power of Attorney

Shockingly, most adults in the UK have no valid Will. This means that 2 out of 3 people when they die the government decide how money, possessions and property are distributed. Therefore, family and loved ones are not looked after, leaving them with what may be unnecessary problems at a time where they are least able to deal with them.

Writing a Will ensures your family’s future is secured. At My Law Matters we make Will writing easy. Our specialist solicitors have a wealth of experience and will ensure your wishes regarding your assets are upheld in the correct manner.

8 reasons to write your Will today with My Law Matters:

You may create an unnecessary tax bill for your beneficiaries

Unmarried partner could get nothing and be made homeless

Your estate may go to people you would not choose. For examples , if you’re separated, Your estranged partner may benefit

The courts may choose potentially unsuitable guardians for your children

Your business may be divided up, sold or given to someone you would not choose

Dependents needing care may not receive your financial assistance, no matter what your intentions

Others may claim on your estate bringing large expenses, turmoil and lengthy delays to your loved ones

You won’t know who will take care of your pets

 

Your Will is one of the most important legal documents you will make in life. Using My Law Matters is an easy way of ensuring your wishes are carried out and that your possessions are passed on as you wish, whether your affairs are simple or complicated.

While a Will is here to ensure your wishes are carried out after you pass away, an LPA is to protect your interests during your lifetime. There may come a time when you are unable to make decisions about finances or health and wellbeing due to a serious accident, or an illness which affects your mental capacity, such as dementia, and in such circumstances, an LPA allows you to have more control over how such decisions are made.

 

How an LPA works ?

Mrs Jones Suffers with an unexpected illness resulting in a loss of mental capacity

Without an LPA

Mrs. Jones’ family doesn’t have the legal right to make decisions for her.

  • Sole bank accounts are frozen
  • Joint bank accounts are frozen in some circumstances
  • Bills can’t be paid with Mrs. Jones’ money
  • Property can’t be sold, meaning co-habiting partner can’t move house if they wanted to
  • Next of kin doesn’t have legal right to make decisions about medical treatment
  • Next of kin doesn’t have legal right to move personal choices, for example where Mrs jones should live

If you don’t plan ahead and you suffer an accident or illness which causes you to loose mental capacity. Your next of kin can only get legal authority to act on your behalf through a court order. This is a long and expensive process.

With an LPA

Mrs. Jones’ put LPAs in place for both financial health & care decisions.

  • Mrs. Jones has legally appointed a representative to make decisions about finances
  • Bills can be paid as normal
  • The bank recognises the chosen representative’s legal authority and no accounts are frozen
  • Investment decisions can be made by Mrs. Jones’ representatives
  • Property can be sold if needed
  • Next of kin does have legal right to make personal choices, for example where Mrs jones should live

By planning ahead, you can choose who should have legal authority to make decisions on your behalf if you’re unable to make decisions for yourself. A Lasting Power of Attorney costs far less than a court order and, the people you choose can step in as soon as they’re needed.