Look after your family now and in years to come

Heading to the gym more, eating better, taking time to relax – it’s common to make new year resolutions to look after your health and wellbeing. But one area that’s easy to forget about or postpone is your legal affairs.

You hope you won’t have to use it, but you need to have it... Imagine getting into an illness and not having a power of attorney?

Having power of attorney (POA) in place can contribute to your wellbeing by giving you peace of mind that whatever 2022 and the years to come hold, you have done all you can to put as much protection as possible in place for you and your loved ones.

That’s why ILAWS Scotland, a long-standing firm specialising in POA, wills and estate planning, is advising people to prioritise organising POA. This important legal document allows you to name a trusted loved one to make medical and financial decisions on your behalf, should you become incapacitated.

A POA will ensure your wishes are always followed and can make stressful situations (like going into long-term care) easier to manage for loved ones.

And while worth every penny, the cost of arranging a POA may be less than you think. Tony Marchi, principal at ILAWS Scotland, says: “You pay your car insurance, you pay hundreds of pounds for it every year – you do it because it’s required. You hope you won’t have to use it, but you need to have it. It’s the same with your home insurance.

“These only protect one thing, though. But for £321, POA protects everything you own – and your welfare. When you put it into perspective, it’s miniscule and it’s a one-off cost. Heaven forbid you have a car accident, but if you do have an accident then you’re always grateful you have an insurance. Imagine getting into an illness and not having a power of attorney? It’s a lot worse.”

Plus, the cost is another reason to organise POA sooner rather than later. The Scottish Government sets the court fees for POA and can change these at any time. ILAWS is expecting an increase in fees at some point, which will lead to an increase in prices for clients.

Tony adds: “Due to Covid and Brexit, prices of lots of things are going up. Get POA and wills done while you can – there are no guarantees about the price being so low for long.”

If you are ready to get your legal documents like a POA, will or Protected Property Trust in order this year, call ILAWS Scotland for expert advice and help. You’ll be ticking this essential task off your to-do list in no time.