Most of us will be familiar with this expression but how many of us have considered what it actually means.
Whilst most of us are extremely organised and professional during our daily lives in the workplace with our finances, pensions etc all in place, many still haven`t considered what would happen if they were to suffer a serious brain injury, stroke or dementia or die.
It is difficult to focus on discussing and organising such issues whilst we are young, fit and healthy but unfortunately putting off such matters leaves us vulnerable and may have unwelcome consequences for both you and your family in the future.
Not making a Will in your lifetime means that your assets may not go to the people you intended, some may be left out and can put extra stress on your family who are already grieving your loss.
Your assets and estate after your death will not just automatically be distributed in the order you may have anticipated.
Not preparing a Lasting Power of Attorney for both Finance or Property or Health and Welfare can cause immense problems should you become mentally incapacitated at any time and it is a myth that your family can just automatically deal with your finances and access your bank accounts or even decide your medical care.
Once you have lost mental capacity it is too late to prepare an LPA and making an application to the Court of Protection is often a very costly procedure. You will have lost the opportunity to discuss and decide who you want to make important decisions relating to your finances and medical care or even where you should live.
Contact our legal expert today and they will be happy to discuss such matters and guide you through the process so that you and your family are safeguarded and “your affairs are in order” whatever the future may hold.