Making plans for the future is something many people put off. Whether it is deciding what should happen to your property, making arrangements for your family or choosing who could make decisions on your behalf, having the right legal documents in place can make a significant difference.
For people living in Preston and surrounding areas such as Bamber Bridge, Penwortham, Fulwood and Lostock Hall, making a Will and setting up a Lasting Power of Attorney (LPA) are two important steps towards protecting your interests and providing reassurance for those closest to you.
Although both documents deal with future planning, they serve different purposes. A Will sets out what should happen to your estate after your death, while an LPA allows people you trust to make certain decisions on your behalf during your lifetime if you become unable to make them yourself.
Understanding how they work and why they matter can help you make informed decisions about your future.
Why is having a will so important?
A Will is a legal document that explains how you want your estate to be distributed after your death. This can include your home, savings, personal possessions and other assets.
Without a valid Will, your estate will generally be distributed according to the rules of intestacy. These are legal rules that determine who inherits when someone dies without leaving a valid Will. The outcome may not reflect what you would have wanted, particularly if you have an unmarried partner, children from different relationships or other family circumstances.
Having a Will allows you to make these decisions yourself rather than leaving them to the intestacy rules.
Some of the main reasons to make a Will include:
- Choosing who inherits your estate: You can decide which family members, friends or charitable organisations receive your money and possessions.
- Protecting your children: If you have children under 18, you can name people you would want to act as their guardians, subject to the relevant legal arrangements.
- Appointing executors: You can choose trusted individuals to deal with your estate and carry out the instructions in your Will.
- Providing for your partner: If you are living with someone but are not married or in a civil partnership, they will not automatically inherit your estate under the intestacy rules.
- Making specific gifts: You can leave particular belongings, sums of money or other assets to the people you choose.
A Will can also include provisions for trusts, which may be useful when providing for younger beneficiaries or protecting assets for someone who needs additional support.
What happens if you die without making a will?
Many people assume their estate will automatically pass to their partner or children if they die without making a Will. However, the legal position is not always that straightforward.
The intestacy rules set out who can inherit and in what circumstances. The distribution depends on factors such as whether you are married, in a civil partnership and whether you have children.
For example, an unmarried partner does not automatically inherit under the intestacy rules, regardless of how long you have lived together.
This could create financial difficulties for someone who has shared a home, bills and everyday expenses with their partner but has no legal entitlement to inherit their estate.
It can also create complications for families where there are children from previous relationships or other relatives who may have an entitlement to inherit.
Making a Will helps establish your wishes clearly and gives your loved ones a better understanding of how your affairs should be handled.
What is a lasting power of attorney?
While a Will deals with what happens after you die, a Lasting Power of Attorney allows you to appoint someone you trust to make decisions on your behalf during your lifetime.
An LPA can become particularly important if illness, an accident or another circumstance affects your ability to make certain decisions independently.
For example, you may experience a situation where you are no longer able to manage your finances, deal with your property or make decisions about your health and care.
Without an LPA, your family may not automatically have the legal authority to make these decisions for you.
There are two types of Lasting Power of Attorney in England and Wales, each covering different areas of your life.
Property and Financial Affairs LPA
A Property and Financial Affairs LPA gives your appointed attorney authority to deal with financial matters on your behalf.
Depending on the arrangements you choose, this can include:
- Managing your bank and building society accounts.
- Paying household bills and managing regular payments.
- Dealing with your pension and other income.
- Managing, selling or dealing with your property.
- Handling other financial matters within the authority you have given them.
This type of LPA can be used once it has been registered with the Office of the Public Guardian, provided you have given your permission. You can also specify that it should only be used if you lose the mental capacity to manage your own financial affairs.
Health and Welfare LPA
A Health and Welfare LPA allows your chosen attorney to make decisions about your personal care and wellbeing if you become unable to make those decisions yourself.
This can cover matters such as:
- Your daily care and living arrangements.
- Medical treatment and healthcare.
- Decisions about moving into a care home.
- Your general wellbeing and personal routine.
- Life-sustaining treatment, if you give your attorneys the relevant authority.
This type of LPA can only be used when you lack the mental capacity to make the relevant decisions yourself.
You can make both types of LPA, allowing you to plan for financial matters as well as decisions about your health and care.
Why should you arrange an LPA before you need one?
One of the most important things to understand about Lasting Powers of Attorney is that they need to be arranged while you still have the mental capacity to make your own decisions.
It is not something that can simply be put in place by a family member after you have lost that capacity.
Without an LPA, relatives may need to apply to the Court of Protection to obtain authority to manage certain aspects of your affairs. This can involve additional time, expense and paperwork at an already difficult point for the family.
Putting an LPA in place earlier means you can choose who you want to act on your behalf, rather than leaving important decisions to a process you have less control over.
It also gives you the opportunity to consider your options carefully and discuss your wishes with the people you trust.
An LPA must be registered with the Office of the Public Guardian before it can be used, so it is sensible not to leave the process until an urgent situation arises.
Can you have a will and lasting power of attorney together?
Yes. In fact, having both documents is an important part of planning for the future.
Although they serve different purposes, a Will and an LPA complement one another by covering different stages of life.
For example, consider someone living in Bamber Bridge who owns a property, has savings and has children.
By making a Will, they can decide who should inherit their estate, appoint executors and make arrangements for their children.
By setting up both types of LPA, they can also appoint trusted people to deal with their finances and make health and welfare decisions if they become unable to do so themselves.
Having these arrangements in place provides greater clarity for family members and helps ensure that important decisions are made in accordance with the individual’s wishes.
It is worth remembering that an LPA does not replace a Will. An attorney cannot use an LPA to change your Will, and an LPA comes to an end when you die.
When should you review your will and LPA?
Making these documents is an important first step, but it is also worth reviewing them when your personal or financial circumstances change.
Events that may mean you need to revisit your arrangements include:
- Getting married or entering a civil partnership.
- Having children or welcoming grandchildren.
- Buying or selling a property.
- Getting divorced or ending a civil partnership.
- Experiencing a significant change in your financial circumstances.
- Losing contact with someone you previously appointed as an executor or attorney.
- A change in your wishes about who should inherit your estate or make decisions for you.
Marriage or entering a civil partnership generally revokes an existing Will unless it was made in contemplation of that marriage or civil partnership. Divorce or dissolution can also affect how certain provisions operate.
Reviewing your documents following major life events helps ensure they continue to reflect your circumstances and intentions.
Wills and Lasting Power of Attorney solicitors in Preston
For people across Preston and the surrounding Lancashire area, getting professional advice can make the process of putting these arrangements in place much more straightforward.
Whether you live in Bamber Bridge, Penwortham, Fulwood, Lostock Hall, Walton-le-Dale or elsewhere in the Preston area, it is worth taking the time to understand which legal documents are appropriate for your circumstances.
At Marley Solicitors, we understand that discussing Wills and future arrangements can feel like a difficult subject. Our aim is to make the process as clear and straightforward as possible, taking the time to understand your wishes and explain the options available.
Our Will-writing service provides an opportunity to discuss how you would like your estate to be distributed, including any particular family circumstances or requirements that need to be considered. We also offer advice and assistance with Lasting Powers of Attorney, helping you understand the different options and the decisions involved.
Our office is based in Bamber Bridge, Preston, making us accessible to people across the local area. Will-writing appointments can also be arranged through home visits or Zoom, depending on what is most convenient.
You can find out more about our Will-writing service and Lasting Power of Attorney service.
Take steps to protect your future
Making a Will and arranging a Lasting Power of Attorney are not just tasks for later life. They are practical ways to protect your interests, make your wishes known and reduce the uncertainty your loved ones could face in the future.
Whether you are reviewing an existing Will or considering an LPA for the first time, getting the right advice can help you understand what needs to be done.
If you live in Preston, Bamber Bridge or the surrounding areas and would like advice about making a Will or setting up a Lasting Power of Attorney, contact Marley Solicitors on 01772 282600 to discuss your requirements.