As the reality of the pandemic continues to unfold, why not use the time in lockdown to prepare for life after COVID-19?
Suzanne Porter, director in the Private Client team at Wake Smith Solicitors looks at why sorting out your affairs makes sense now.
She said: “The coronavirus pandemic has meant we have all been forced to face our fears in some way. It might be the fear of becoming ill, losing a job or having to spend time on your own.
“With all these anxieties and unknowns, it might feel like there’s suddenly a pressing need to get your affairs in order ― just in case.
“Though most people who contract COVID-19 experience mild symptoms, it doesn’t hurt to be prepared if you do need to be hospitalised.
“For many people, thinking about getting sick or not being able to make decisions for yourself, is a scary thought, but an estate plan is designed to ease fears. It removes the burden on unprepared family members having to make health and financial decisions.
“In the weeks and potentially months ahead in lockdown, ask yourself three questions about your estate planning…
1. Do I have provisions in place to protect my assets via a Will and possibly a trust?
2. Have I informed my family or other trusted people to tell them how I have done my estate planning?
3. Do my family or other trusted people know who has decision-making authority on my behalf should the need arise?
Suzane added: “Your estate planning documents are more important now, than ever before.
“Have you appointed someone as an attorney to manage your financial and health and welfare affairs? A Lasting Power of Attorney is a legal document which allows someone you appoint to make decisions on your behalf when you are unable to do so, either through ill-health, mental incapacity or in some cases with consent and capacity (such as with your finances should you be abroad).
“Those decisions might be to do with your finances or property or, if you lose mental capacity, health and welfare issues, such as what medical treatment you should have, or where you should live.
“These documents can give a trusted person the ability to pay bills remotely on your behalf or receive medical updates by phone under quarantine conditions.
“As the pandemic is showing us, planning ahead works both for everyday matters as well as unexpected events. Taking the right steps now can provide assurance, no matter what happens.”
Can I draft, or change, a Will or Lasting Powers of Attorney (LPA) currently with Wake Smith?
Yes, Wake Smith is using technologies such as Skype and Zoom to allow client interaction to aid the drafting of documents, complying with Government advice.
How are you dealing with signing documents?
Wake Smith is complying with the Government’s guidance to reduce social contact and maintain distance, while also arranging for documents to be validly signed, as far as possible.
Some clients are printing documents themselves to sign at home. Signed copies are returned or scanned for our records and proof of what has been executed.
To talk about your Will or LPA call the Private Client team at Wake Smith Solicitors on 0114 266 6660.
