Recent research carried out by the insurance company Direct Line shows that 38% of cohabiting couples living in the UK are unsure what they are legally entitled to if their partner died without leaving a Will. One in ten cohabiting couples wrongly believe that they would automatically inherit their partner’s share of any property they lived in together.
Healthy competition is always a good motivator! Having 5 other colleagues from the Bowdon Business Club taking part in the CEO Sleepout on Monday 4th November, raising awareness of homelessness and money for our chosen charity, Walking With the Wounded, ensured a determination to see this challenge through.
The idea of mirror wills is simple. A couple leaves everything to each other. Then, they believe, their estate will benefit both of them for life, and their children after that. The bad news is such a simple idea can backfire badly, utterly destroying the best of intentions.
The idea of Lasting Powers of Attorney is a simple one. While we still have full mental capacity we legally appoint trusted others to make future decisions on our behalf about our finances and health & wellbeing when we’re not able to as a result of injury or illness. The question is, at what point in life should we be appointing these trusted others?