How Does Getting Older Impact The Need For A Will?
Most young people are enjoying life too much to do any sort of financial planning, let alone try and put in place a will to benefit their family and friends.
More and more people start to think about their own mortality as they get older and become concerned about what will happen to their family and friends when they are no longer around.
They may be thinking about making gifts to grandchildren or charities, or making provision for their share of the family home to be gifted to their children, whilst at the same time allowing the surviving spouse to remain in the family home for as long as they want to, or are able to.
Just as important as having an up to date will is having a lasting powers of attorney (or LPA’s) which can be used if needed whilst you are still alive by people you trust with any financial decisions or care decisions that you are either unwilling or unable to make yourself.
This is why we recommend not only having a will but we also want to explain to you how an LPA for financial decisions or care decisions can help you and your family if you ever needed their help as you became older, or if you became unable to make these decisions yourself through illness or an accident.
Taking time to make a will and an LPA can often put a person’s mind at rest as they know that they have made proper arrangements for their family and friends not only as they become older, but also for when they are no longer around.