Why now is perfect time to get must-have legal documents organised and at a discounted price
the longer we put off organising our essential legal documents that protect our future, the more expensive it will be – that’s according to Wills and estate planning expert Tony Marchi, principal at ILAWS Scotland.
For a limited time only, the firm is offering to write your Will in the comfort of your own home for just £40. And ILAWS Scotland is also organising Power of Attorneys for clients at the special price of £220 (plus £79 for the registration fee), a short-term offer that is scheduled to end soon.
Tony said: “Time is running out to organise these essential legal documents before our price increases in 2020 – there is only a matter of weeks left to take advantage of these significantly reduced prices. It is not going to get any cheaper than this.We all need a Will and Power of Attorney, so why wait?
“Price was an important factor for one couple who were tempted by the special deals and decided there really was no time like the present to draw up a Will because, they said, ‘we are not going to get it cheaper anywhere else’ and they are very glad they did.”
Most people know about the benefits of having a Will and how it ensures that your wishes are carried out when you are no longer here, but not everyone knows exactly what a Power of Attorney means for them.
It is a legally-binding document that appoints someone to make medical and financial decisions on your behalf when or if you cannot make these decisions for yourself.
Often people assume that Power of Attorney is only advisable for older people but an accident at work, a road traffic accident or a simple slip, trip or fall can leave you being declared incapax (incapacitated).
When is the last time that you needed an antibiotic? Do you know now that any type of bacterial infection has the possibility of you being declared incapax, at any age, if your temperature is up?
Hospitals will not administer certain medications without your permission (or that of your Power of Attorney if you are unable to do so), even if this is the best course of treatment.
Your spouse or children do not have the power to make these decisions without Power of Attorney.
PROPERTY PROTECTION TRUSTS
One of the biggest concerns facing today’s ageing population is the risk of needing long-term care and losing their property to fund hefty care home fees. Did you know that you will be expected to pay towards the cost of your accommodation in a care home from your State Pension and from your “capital” (the other assets, including your property, savings, stocks and shares) if it is worth more than £17,500.
However, as Tony Marchi points out, although you are not allowed to deliberately deprive the local authority of care home fees, there are legitimate and legal ways to prevent this for even being a possibility. He explained that a Property Protection Trust (PPT), which is a special type of Will, would be built into your Will to stop your whole home being used in an assessment to long-term care fees.
The payment of care home fees is a complex subject and depends on many things which are unique to you, but one thing we all have in common is that our homes will be used to calculate what you owe – unless your home is protected.
It is best to get all your affairs in order when you are in good health
– Donna Pastore, 56, Renfrewshire
Donna Pastore didn’t ever give writing a Will a second thought as she and her husband were only in their fifties. But, unexpectedly, her circumstances changed.
Tragically, Donna’s husband passed away at the age of 56. It naturally came as a terrible shock to Donna and their two grown-up children, but it also brought something to her attention – her Will. Donna, 56, did not have one (nor did her late husband) so she felt it was time to address this.
The young people’s resource manager said: “Like most people, we were enjoying our lives, working in our jobs and looking after our grandchildren. We had no Will in place or anything. We honestly didn’t think about it.
“I never thought about a Power of Attorney either but when I lost my husband at quite a young age, it made me think more about it. That was a catalyst.
“I saw an advertisement in the Sunday paper and I thought I would go for it because I wanted to put my affairs in order and secure the future for my children in terms of decision-making. I have two grown-up kids and three grandkids, so I wanted to make sure that, if anything happened, they were protected.”
Solicitors recommend every adult in Scotland ought to have a Will.
Like two-thirds of the population, Donna put off organising these essential legal documents but, after a phone call to ILAWS Scotland, the process was straightforward and not at all time-consuming for the busy working mum.
Donna added: “It was all very easy. I made an appointment with ILAWS over the phone and everything was done at my home. I wasn’t sure what to expect, but everything to do with my Will and Power of Attorney was done within an hour.
“Once it was sorted, the doctor had to sign it off and now it is all in place. To be honest, I didn’t feel anxious about not having a Will or Power of Attorney, but I am glad now they are in place.” Now Donna’s grown-up children will be able to deal with her bank accounts and savings, as well as being legally able to make decisions on her welfare (medication, hospital treatment and care), should she ever be declared “incapax” (incapacitated).
And the grandmother-of-three has some advice for others: “Things can and do happen unexpectedly. It is best to get all your affairs in order and a Power of Attorney organised when you are in good health, because this in particular takes a wee bit of time to arrange.”
A Power of Attorney must be registered through the Scottish Courts Service, a process than can take up to 14 weeks.
Donna added: “I would recommend people to take the first step and make a phone call to ILAWS.”