Making a Will is a 'no-brainer' because without it you may leave those people that you care for most in a very difficult situation should you die. None of us really want to think about death but it happens and when it happens the last thing that we would ever want is for our loved ones not only to be grieving our loss but for them to be also landed with financial difficulties.
Making a Will is easy and can be very cheap to do, relatively speaking, but you might need some specialist help to do it properly and that is where our bestof business in the Hinckley area – Will Planning Solutions could be just the sort of help and support that you need.
What about a Lasting Power of Attorney though you ask? Well, bad things do happen and one such thing could be an accident or ill health that makes you unable to handle your own financial affairs. The example on the BBC One Show illustrated the difficulties that a wife experienced when, following an accident, her husband was in a coma for three years. Although they had joint accounts and had made Wills, because he hadn’t died, all his finances were frozen due to his incapacity. This meant that she had to go to the Courts of Protection to access funds to keep the family homes running. The cost of doing this was thousands of pounds let alone the time it took and the emotional distress. CLICK here to read the full article on the BBC One Show website. Alternative, CLICK here to go to the BBC iPlayer and watch the show, this is a powerful article on Lasting Power of Attorney that appeared on the show.
Having had direct experience of the need for a Power of Attorney I would strongly recommend that, if you haven’t done so already, you get one written up immediately. The costs are minimal compared to the cost and heartache of not having one in place if required. Just as you wouldn’t think of not insuring your car or home then don’t take this risk with something (yes, very emotive but) so important.
If you would like some further advice and guidance with this then contact Rob Abell at Will Planning Solutions for a friendly, no obligations, discussion about Wills, Power of Attorney and general estate planning. Tel. 01455 268 677 or visit his feature on the bestofhinckley and use the link in the contact details panel to email him.