It wasn’t raining when Noah built the ark. The importance of having a Will and Power of Attorney in place
There is no doubt that the Coronavirus pandemic has brought many things into sharp perspective. Putting a Will and Power of Attorney in place has always been a very important thing to do. However, in the current circumstances, it is now of even greater importance, and we continue to be on hand to assist you.
Power of Attorney
While putting a Power of Attorney in place is something that we recommend for all of our clients, it is particularly important that you consider putting a Power of Attorney in place now, if you have not already done so.
The prospect of social distancing for a period of months is, of course, a cause of concern for those who will now be unable to get to the bank, or otherwise manage their financial and property affairs online. A Power of Attorney can be extremely useful in these circumstances, as it will allow your chosen attorney (a trusted person or persons) to deal with all of your financial and property affairs on your behalf, as soon as it has been registered. In this way, you can ask another to help you with all aspects of your finances that you may need assistance with. Blackadders Trustees Limited are also able to act as your attorney, and manage your affairs on your behalf.
A Power of Attorney is also of vital importance with regards to your welfare, allowing your attorney to make welfare decisions, such as where you will live and the type of care and treatment you will receive, in the event that you are no longer able to make these decisions yourself.
Regardless of the current situation, sadly, death (and taxes) are some of life’s few certainties. There are many advantages of having a Will in place, including:
- Peace of mind – by drawing up a Will you are ensuring, as far as possible, that your estate is divided among your chosen beneficiaries (be that family members, friends, or charities) as you would wish. If you do not have a Will in place, your estate will be divided in accordance with the arbitrary rules of the Succession (Scotland) Act, and your estate may not pass to those who you would want to inherit from your estate.
- Expediency – if you have a Will in place, it makes it much easier for your family to deal with your estate, in what will always be a difficult time. Without a Will, there are a number of extra hurdles, which result in a delay in the administration of your estate, as well as additional cost, and can place an added burden on your family.
At Blackadders LLP we are following government guidance, but remain committed to offering clients our usual level of service. We are on hand to assist with the preparation of your Will and Power of Attorney and, can provide modified services, including meetings by Skype, FaceTime and telephone, communication by email, and documents sent to you in the post for your signature with a signing meeting taking place on Skype or Facetime. In many cases, you will therefore not require to attend at our office to have your Will and Power of Attorney put in place. Should you have any queries, or wish to contact one of our solicitors regarding your Will and Power of Attorney, please get in touch using the contact details below, and we would be happy to assist you.
From all of us in our Private Client team, we hope you and your loved ones stay safe and healthy during this time. We are all in this together and we will get through it together.
Rachael Delaney, Solicitor