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Is it time to spring-clean your legal affairs?

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Estimated read time: 2 Minutes

It’s been on that ‘to-do’ list for some time now.  Finally putting those Lasting Powers of Attorney in place, updating your Will, getting some advice on Inheritance Tax….

It’s March and spring is just around the corner – the season for cleaning up, sorting out and getting on top of all those jobs you’ve put off during the dark days of winter –it’s time for a spring clean of your legal affairs! Doing this provides peace of mind for the months and years ahead, not only for you – but for your loved ones too.

  • Make a Will or Update an Existing One

Your Will is a fluid document that needs to be considered and updated regularly throughout your lifetime to make sure it fits your current circumstances.  In the absence of a Will, the Intestacy Rules dictate who your assets pass to, and this might not always be to who you think; not having a Will in place could result in your loved ones not benefitting from your estate. See our previous article on Is it such a big deal not to have a Will?

  • Property and Financial/Health and Welfare Lasting Powers of Attorney

Have you ever considered what might happen if you lost the mental ability to function for yourself? It can take only a moment for something like a heart attack, stroke or road accident to leave you unable to make your own decisions – not just with your personal affairs but also in relation to your medical treatment and welfare. It’s natural that no-one wants to think about the worst things that can happen in life, but it is better to be prepared. Luckily, there is a way to ensure that your best interests are always protected – a Lasting Power of Attorney.  See our article on Lasting Powers of Attorney.

  • Inheritance Tax Guidance

It’s important not to forget taking Inheritance Tax (IHT) into account when making your Will.  IHT can have a large impact on what your estate will have to pay, and planning for this ensures that when the time comes, your loved ones benefit as much as possible from your wealth and property.  A professional can advise you and help you plan in relation to IHT.   You can find a list of Nexa’s Private Client solicitors here.

Getting your legal affairs in order is a way of protecting your loved ones and ensuring they are looked after and benefit appropriately when the time comes. For further information, details on our full range of Private Client services can be found here.

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