Make sure your financial affairs are tip-top for 2020 with ILAWS’ unrivalled offer

20 facts about how to get your financial future in shape during 2020

The New Year means a new start and the chance to look afresh at your financial wellbeing not just for 2020 but for the next decade.

We’ve spoken to the experts at ILAWS Scotland about the different ways to get your affairs in shape.

Whether you’re married or single, now’s the perfect time to work out your Will, Power of Attorney or Property Protection Trusts and strengthen your financial security.

Tony Marchi, principal at ILAWS Scotland, said: “Act now because January is the last month of our special offers (£40 for a Will and £220 for a Power of Attorney).

“The reasons you should be getting your finances and estate planning organised are outlined here, but two of the main reasons to do this is because it will give you peace of mind and it is also cheaper to do it now than it will be as prices will increase very soon.”

Why you should write a Will 1

With no Will in place, the law decides who gets what if you die – husbands and wives do not automatically inherit 100% of each other’s estate.

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Having a Will makes it easier and quicker to divide your estate when you are gone – with no Will in place, even with a simple estate it could take up to 18 months, and your children will be left with hefty legal fees.

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With a Will and proper estate planning you may be able to prevent your home being taken from you if you go into care.

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If you wish to leave a cash sum, an item or jewellery or something sentimental to a specified member of the family, a Will can facilitate this.

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A Will is cheaper than you think – right now it costs as little as £40 to plan for your future, until the end of January.

Why you need Power of Attorney 6A

Power of Attorney makes it legal for your trusted family members to act on your behalf and make important decisions for you when you are unable to.

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It also protects you and your spouse’s welfare in a care home.

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Without a PoA in place, a hospital can make your medical decisions for you – and sometimes medics won’t administer treatment if there is any risk to you, even if your spouse or children wish them to do so.

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Without PoA, you could lose access to your joint bank account should your spouse or partner become incapacitated which would mean being unable to pay bills.

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It is advisable to arrange a PoA now when you are fit and able to do so, because it might be too late if you become ill or incapacitated. Remember, the average time it takes for a PoA to be concluded is around 14 weeks.

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ILAWS Scotland is arranging Power of Attorney for the special price of £220 (plus £79 registration fee) until the end of January. That price is significantly less than other providers, so take advantage of it now before it is too late.

Why you should consider a Property Protection Trust 12

Protects your home from being used to pay for care fees. You cannot deliberately deprive the local authority, but you can legally transfer your property to a trust.

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You have been paying for your mortgage for 25-30 years, but you could lose your property in a matter of months to pay for residential care. Instead, ensure your loved ones are provided for and inherit your home.

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Having a trust leaves your surviving spouse or partner with complete control over the property giving them flexibility to move or sell.

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It gives you peace of mind as you no longer need

worry about losing your home. Placing your property into a trust only takes a few weeks to arrange, but don’t leave it too late. “Acting early is key, be proactive,” says Tony at ILAWS.

It will give you peace of mind and it is also cheaper to do it now than it will be as prices will increase

Why you should consult the professionals at ILAWS 16

ILAWS are running special discounted prices for Wills and Power of Attorney until the end of January so are much more affordable than other firms.

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Every client has the option of a home visit, meaning you can secure your future in the comfort of your own home.

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The team at ILAWS have years of experience behind them.

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ILAWS provide every client with trustworthy advice and take the time to understand your needs.

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Every client is treated the same regardless of their needs and circumstances, whether just a simple Will is required or something much more complicated. Start the year as you mean to go on by securing your financial future or protecting your property. Simply call ILAWS Scotland today on 0800 049 9688 to arrange an appointment with one of their experts.