In a world that often feels unpredictable, one of the most empowering things a person can do is to take control of their future – and their legacy. Two legal documents play a crucial role in this process: a will and a Power of Attorney.
While often associated with later life, they are essential tools for adults of all ages, offering peace of mind not only to the individual creating them but also to their loved ones.
Making a will and putting a Power of Attorney in place are acts of foresight. They ensure that your wishes are respected, your affairs are managed the way you want, and your family is protected from unnecessary stress during difficult times.
Without a will, the law decides who inherits your estate. This can result in unintended consequences, such as distant relatives receiving your assets, or long and expensive legal battles. Similarly, without a Power of Attorney, if you lose the capacity to make decisions due to illness or injury, your loved ones may be forced to go through lengthy legal procedures just to manage your finances or make healthcare decisions on your behalf.
Why a will matters
A will is a legal document that sets out your wishes for how your assets, property and possessions should be distributed after your death. It also allows you to name guardians for minor children, which is one of the most important decisions any parent can make.
Putting a properly drafted will in place gives peace of mind to you and your family. First, you gain confidence knowing that your affairs will be handled the way you choose – and by the person you choose. Second, it relieves your family from the burden of guesswork and potential disputes at a time when they are already grieving. Clear instructions reduce confusion and make the probate process faster and less emotionally draining.
A will can include your preferences for your funeral, messages to loved ones, or charitable donations – adding a personal touch that reflects your values and personality.
A carefully drafted will can also help to arrange your affairs in a way that will mitigate the impact of Inheritance Tax. This tax charged (currently) at 40% of an estate’s value can be reduced using certain reliefs and allowances and sometimes by ensuring that particular assets pass down to specific family members.
Senior Associate Solicitor – Howes Percival
The role of a Power of Attorney
A Power of Attorney gives someone you trust the legal authority to make decisions on your behalf if you’re unable to do so. There are typically two types:
- Financial Power of Attorney – This allows your appointed person (known as an attorney) to handle or help you with your financial affairs, such as paying bills, managing investments or selling property. This can also be used whilst you have capacity, if you permit your attorneys to do so, offering support at a time when you are perhaps physically incapable.
- Health and Welfare Power of Attorney – This allows your chosen person to make decisions about your medical care, treatment options, and even where you live if you’re no longer able to decide for yourself.
Appointing someone you trust ensures that your affairs will be handled according to your wishes. It also prevents the courts from appointing someone you might not have chosen, or worse, creating delays during emergencies when swift action is needed.
Reducing stress for your loved ones
Perhaps the greatest benefit of having a will and Power of Attorney is the emotional relief it offers to your loved ones. At times of crisis – whether it’s a sudden illness, an accident or your passing – your family won’t have to struggle with uncertainty about your wishes or navigate legal red tape on their own.
These documents act as a guidebook. Your family will know who is responsible, what actions to take, and how to honour your decisions. This clarity can prevent family conflicts and provide reassurance during emotionally turbulent times.
Many people believe these documents are only necessary later in life, but life is unpredictable. Accidents, illness or unexpected events can happen at any age. Whether you’re single, married, a parent, or a business owner, having these documents in place is a smart and responsible move.
Think of it like insurance – you hope you never need it soon, but if you do, you’ll be glad it’s there.
A simple step with a profound impact
Creating a will and Power of Attorney are the sorts of things that are on the ‘oh I must do that’ list of jobs. It may seem daunting, but the process is often straightforward with professional guidance. Legal experts can help ensure the documents are properly drafted, reflect your wishes, and are as tax efficient as possible.
Ultimately, these documents are more than legal formalities – they are acts of love and protection. They give you the comfort of knowing your affairs are in order, your family will be taken care of, and your wishes will be respected. That peace of mind is a priceless gift for you and for your loved ones.
If we can help you with any of the issues raised in this article, email courtney.l’homme@howespercival.com or visit our website here.
