New Year’s Resolutions: Time to Review Your Will and Lasting Powers of Attorney 

As the new year begins, many people reflect on their goals and resolutions for the upcoming months. While most resolutions tend to focus on health, finances, or career aspirations, it’s equally important to consider the future of your personal affairs. One area that should not be overlooked is ensuring that your will and Lasting Powers of Attorney (LPA) are up to date and aligned with your wishes. 

A will is a legal document that outlines how your assets will be distributed after your death. It can also name guardians for any children, set out funeral arrangements, and appoints an executor to carry out your wishes. Without a valid will, the rules of intestacy will determine how your estate is divided, which could lead to unintended consequences. Reviewing your will regularly is essential to reflect changes in your life, such as the birth of a child, a marriage, a divorce, or a change in assets. The start of a new year is a perfect time to revisit your will to ensure it accurately represents your current wishes and circumstances. 

In addition to a will, many people choose to set up a Lasting Power of Attorney (LPA), which allows you to appoint one or more individuals to make decisions on your behalf if you are no longer able to do so due to illness, injury, or incapacity. There are two types of LPA: one for property and financial affairs, and another for health and welfare decisions. Having an LPA in place ensures that someone you trust can handle important decisions in the event that you are unable to do so yourself. It also helps to prevent family disputes and ensures your best interests are upheld. 

Reviewing your will and LPA

A common oversight is assuming that a will and LPA are set for life, but both should be reviewed regularly, especially after major life events. For instance, if your chosen attorney for your LPA becomes unavailable or if your assets change significantly, it’s important to update these documents. A New Year’s resolution to review your will and LPA provides an opportunity to make any necessary revisions, providing peace of mind for you and your loved ones. 

Setting a resolution to ensure that your will and LPAs are current is a responsible step towards protecting your future and safeguarding the well-being of those you care about. So, as you set your personal goals for the year ahead, don’t forget to consider these essential legal tools that give you control over your affairs when you’re no longer able to manage them yourself. 

For further advice or if you would like to book in for a free initial consultation please contact Sophie Booker:

*The contents of this article should be read as general advice and should not be construed as full legal advice, no reliance should be placed on the above content without seeking formal advice.