For those in the 45 ─ 54 age group, more than three in five people haven’t written a will.*
Perhaps they assume that their assets will automatically go to those they feel will deserve them most. The bad news is, the law often looks at the situation differently.
You don’t even need to die for problems to start
Imagine if an injury or illness meant you could never manage your own financial affairs again – from your bank accounts to investments and pensions.
You might think that your partner, children or trusted others could just take over decisions on your behalf. But you’d be wrong. Unless you officially name these people while you still have all your faculties, they’ll face a lengthy, complicated and expensive legal struggle before they’re able to support you.
And this doesn’t just apply to your finances. Loved ones don’t even have an automatic right to make decisions about your health and welfare, unless you appoint them in advance.
Right now, around 96%* of people have potentially left loved ones in that unpleasant position ─ yet most probably don’t even realise it.
At Dynamic Estate Planning we’ll take time to listen to you and understand the things you want to be sure of in the future – who exactly you want to benefit from your assets and in what way. We’ll identify the various financial predators that could put your cherished plans at risk. And then set out the legal measures available to shield you and your loved ones against them.
* Source: Kings Court Trust’s second annual report on the Will writing industry and Data collected under the Freedom of Information Act from the Office for the Public Guardian. The total number of LPAs registered is up to July 25 2016.