The new year is often seen as a time for fresh starts and resolutions – but it’s also a good opportunity to ensure your legal affairs are in order.
Life doesn’t stand still, and neither should your legal documents. So the start of the new year is the perfect time to review key legal documents to ensure they accurately reflect your current wishes.
A legal health check can provide peace of mind, ensuring your plans align with your current circumstances and any recent life changes, while taking early action can safeguard your future, clarify your wishes and offer security for you and your loved ones.
Research from The Association of Lifetime Lawyers shows that 49% of UK adults over the age of 30 don’t have a Will in place, leaving families vulnerable to uncertainty and potential disputes.
It’s best practice to review and update your Will every five years or when a major change in your life occurs that impacts you or your loved ones, such as a marriage or civil partnership, divorce or dissolution of a civil partnership, a new birth, a death in your family, or if you or one of your beneficiaries has obtained a Gender Recognition Certificate.
Having an up-to-date Will not only ensures your wishes are carried out but also provides clear instructions for guardianship arrangements if you have children.
It’s alarming how many parents don’t have a Will in place or haven’t appointed a legal guardian for their children.
It’s important to note that godparents are not legal guardians unless appointed as such in a Will. Without a Will, the courts may decide who looks after your children, which might not reflect your preferences.
Setting up a Lasting Power of Attorney (LPA) is another a crucial step. This ensures that someone you trust can manage your financial and healthcare decisions if you become unable to do so.
You can establish a Property and Financial Affairs LPA for handling your finances and a Health and Welfare LPA for decisions regarding your care and living arrangements.
Finally, prepare for the unexpected. Create a secure emergency document with essential contacts and key details for accessing important account, such as online banking.
Additionally, documenting your funeral wishes can reduce the emotional burden on your loved ones during a difficult time.
Where possible, it’s a good idea to speak with an experienced legal professional, such as a lifetime lawyer, to ensure that all documents are thorough, valid, and reflect your intentions accurately.
Trish Watkins is a member of The Association of Lifetime Lawyers. Formerly known as Solicitors for the Elderly or SFE), the Association represents a community of the most qualified legal professionals in the UK supporting vulnerable and older people with expert advice and support.
