What to think about when you have some free time

The weather has been crazy recently and many of us have enjoyed some unexpected snow days! Did you make good use of them? Did you spend any time thinking about your future?

 

On days like these, we all have a lot of extra time and it’s a good time to think about the future. From Wills to Power of Attorney, it’s imperative that we have everything in place from an early time.

 

Wills

 

It is important that you start thinking about a Will as early as possible. It is also crucial that you update your Will if and when your circumstances change. This will make sure that, following your death, your estate will be distributed in accordance with your wishes.

 

You can leave legacies of personal effects or sums of money to relatives, friends or charities. You can determine in your Will exactly what would happen to your estate if for example someone named as a beneficiary in your Will predeceases you. You can provide that your estate is to be held in trust for a minor beneficiary or to be held in trust for someone who has a mental or physical disability. You can also make provision in your Will for funeral arrangements.

 

It really is best to put your affairs in order by making a Will or reviewing your existing Will to ensure it reflects your current wishes regarding your estate

 

Power of Attorney

 

A Power of Attorney is a document which enables you to appoint someone whom you trust to manage your financial affairs, and perhaps also your welfare affairs, should you lose the ability to do so through mental or physical incapacity.

 

You must grant the deed while you have the capacity to understand the nature and extent of the powers contained within the deed. A solicitor or medical doctor must sign a certificate at the time you grant the deed certifying that the solicitor or doctor considers that you have sufficient capacity to understand the implications of granting Power of Attorney.

 

Get in touch with Walker Laird today and we can help you plan for your future.