With 2016 well and truly here and January done and dusted resolutions may have been set, new systems in place and the journey has started to achieve those milestones.
With the life plan
in place it may also be a good time to consider your 'legal health' and your plan for the New Year in that regard. A quick legal health check for you may be to turn your mind to the following:
Do you have a will?
Have you recently lost a family member, got married or has another child arrived?
If so, is your current will up-to-date?
These are all events which may mean that you need to update your will.
Enduring Powers of Attorney
Do you have an Enduring Power of Attorney?
Do you know what this is?
In short, an Enduring Power of Attorney is a helpful document which appoints an attorney to act for you in some situations. The attorney can then conduct your business for you if you were unable to (if for example you were physically or mentally incapacitated).
There are two forms of the document, one for your property and one for your personal care and welfare.
Contrary to popular belief these are not documents for elderly people. They can be a helpful document for any person. For example someone who travels a lot, or for a couple who hold property in their each of their names (ie separate bank accounts) but in some situations would need to deal with their other halves property.
Does 2016 see you buying your first home, moving house, buying a rental, or building your dream home (or any home or building for that matter?).
If so it is best to get prepared sooner rather than later. Come and talk to us about your plans so that we can make the transition as seamless as possible for you.
Significant life changes
Are you moving into a different chapter of your life this year? For example, selling or buying a business? Wanting to set up a Trust? Passing the farm onto the children?
If so, the sooner obtain your legal advice the better so that we can assist you with a smooth transition onto the next chapter of your life, whatever that may be.
If any of the above resonates with you please feel free to get in touch with one of our Private Client
team members at any time. We are here to help.
Jenny Marren, Associate