Having my dad’s will was a massive help
watch out for unusual payments or unexpectedly large withdrawals.”
Who should I appoint?
When appointing deputies, choose people you trust and tell other family members what you have done.
Katie de Swarte at Osbornes Law regularly sees family members who are worried that a loved one has appointed an attorney who is either untrustworthy or incapable.
“Concerns grow when somebody from outside the family has been appointed, such as a carer or cleaner,” she said.
You can inform up to five people of the application, who have 28 days to raise objections. Once an LPA is registered, it can only be revoked by the person who set it up, or through the courts.
What else should I do?
You should also aim to update your will, especially if your family circumstances have changed, say, following divorce, marriage or the birth of children or grandchildren.
Neil Jones, tax and estate planning specialist at Canada Life, says writing a will does not have to be expensive or difficult. “It is worth it for peace of mind”.
Covid lockdowns have made witnessing difficult but the Ministry of Justice has legalised “remote witnessing”.
Bank worker Jamie Harper-Walton, 28, discovered just how important it is to have a will in place when his father David died unexpectedly at the age of 56.
His dad appointed him executor, so Jamie had the difficult task of managing his affairs, at the same time as struggling with grief.
Having a will in place was a big help, as the money had to be split between Jamie, his brother, mother and his father’s partner.
Jamie, from Leeds, says: “We knew where his assets were going and by what portion they were divided between each person. There could be no arguments as it’s a legal document. My dad’s wishes were executed in full.”
Jamie still found probate daunting, as he had to track down his father’s assets and liabilities.
“Dad had seven bank accounts, and I also had to sort out his utilities, council tax, pension, bus pass, tax and benefits,” he says, “as well as his social media accounts.”
The pandemic made everything more complicated.
“The hardest part is knowing who to speak to, while banks all have different rules,” Jamie explains.
Jamie had to handle dad’s affairs