- More than 1 in 10 over 75’s have not made a will.
- In Britain, some 22% of 65074 year olds, around 1.5 million people, have not made a will.
- Only 30% of people over aged 75 and above have put a Power of Attorney arrangement in place. This around 4 million British people in this bracket do not have a Power of Attorney.
- More than 5 million people aged 65 to 74 do not have Power of Attorney in place.
Do you have a will and power of attorney in place? As demonstrated by the figures above, it is absolutely essential that families get to grips with their financial affairs and their future planning at a time when they are able to do so. At the point where one or the other in a relationship no longer has capacity, it is too late for these types of plans to be put in place and the other partner or spouse may be left in a position having to apply to the court for a Guardianship order to be able to take decisions for that person. It would also mean that a will could not be put in place at that stage as the grantor would not have capacity to do so.
It is never too early to plan for your future. Thinking about these things ensures that your wishes are followed both during your life and post your death. It would also mean that your partner and family would be clear as to what would happen in the event of your death and how finances would be managed.
We appreciate that these can be difficult matters to discuss and think about but it is very important that these discussions are had. This is something that our firm can assist with and we have many years of experience assisting client with their future planning needs.
Contact our office today (email@example.com/ 01383 431 101) to arrange your future planning appointment where we will look at your specific circumstances and tailor a plan for you and your family for the future.