When you are planning a holiday, you are probably thinking about hot weather, restaurants, beautiful cities, and not your financial affairs. Holidays, sadly, can be risky and unpredictable which no one wants to talk about. Our advice is to make sure your will is up to date before you travel.
When should I update my will?
Reviewing and/or updating your Will before you go on holiday is a practical step in responsible life planning due to the risk that any type of travelling poses.
A holiday, whether that is a staycation in the UK or abroad, is about enjoying yourself and taking your mind off day-to-day life. Knowing all your admin tasks and financial affairs are up to date before you go away will provide you with peace of mind without any lingering worries. Life is about enjoying yourself but also about planning wisely, which includes your Will and estate planning.
Travel increases your exposure to risk accidents and illness. While this is unlikely, it is better to be prepared. A clear, updated Will reduces confusion and emotional stress for your family if something does happen.
If you are going on holiday and wish to review and update your Will then contact us today. Our expert Private Client solicitors are on hand to help ensure your Will is up to date and properly reflects your wishes. You can find out more about our Wills, Lasting Powers of Attorney, and Probate services here.
Who should make a Will?
Making a Will is not just for those who retire. Anyone over the age of 18 needs to make a Will, especially if children are involved and/or a property, savings and pets.
Here is a Will Checklist before you go on Holiday:
- Check Your Will – Is it still relevant? Has there been any recent changes in relationship (marriages, divorces, new children, new grandchildren)? Are there any new assets, such as property, savings, investments? Do your gifts in your Will need updating such as any charity gifts?
- Appoint guardians – If you have children under 18, ensure legal guardians are named in your Will.
- List your assets – Your Will should reflect your current property, current bank accounts and investments.
- Talk to your loved ones –Let someone know where your Will is kept and who to contact in case of an emergency.
- Update other documents – It is also important to put Lasting Powers of Attorney in place and ensure any pension/life insurance nominations are up to date.
Any type of travelling is a great reminder to do adulting tasks that often get delayed. Before you pack your suitcase, update your Will, and then you can enjoy making memories with your family and friends.
Make sure your Will is up to date today. Contact our specialist Wills & Probate solicitors in Yorkshire
If you are considering reviewing or updating your Will before going on holiday, our experienced Wills and probate team can guide you through the process. We provide clear advice to ensure your wishes are legally protected and your loved ones are looked after.
Speak to our expert residential conveyancing solicitors in Wakefield, Ossett, Garforth, and Sherburn in Elmet, Yorkshire today by calling 01924 290 029 or ask a question using our online enquiry form.
The content of this blog post is for information only and does not constitute formal legal advice and should not be relied upon as advice. Thornton Jones Solicitors Limited accepts no liability for any such reliance upon this content. Where the post includes links to external websites, Thornton Jones Solicitors Limited accepts no responsibility for the content of such sites. Any link to a third-party website should not be construed as endorsement by Thornton Jones Solicitors Limited of any content, products or services which are outside our direct control.
Make A Will Frequently Asked Questions
Almost every adult should consider making a Will, it is not just for those of a certain age. It is especially important for certain groups as follows:
• If you have children. You can name a legal guardian for your children. Without a Will, the court decides who looks after them if there is no one with parental responsibility.
• You own a property or assets. If you own any type of asset, a Will allows you to state clearly who you wish these assets to pass to upon your death.
• Married or in a Civil Partnership or long term Partnership. A Will can ensure your spouse or partner inherits according to your wishes. Please note, if you are unmarried and do not have a Will, your partner will not benefit under the intestacy rules.
If you are over the age of 18 and have mental capacity you should make a Will as soon as you are able to but certainly if one of the following apply:
• You have children
• You are in a relationship, married or divorced
• You have a property and/or savings
• If an individual dies without a Will, they die intestate, meaning who their estate passes to is decided by the intestacy rules. A Will lets you choose who inherits your property, money and belongings, you can leave specific gifts to certain individuals or charities and it prevents certain individuals receiving your assets.
• A Will lets you choose who deals with your estate, known as your Executors. It allows you to appoint individual/s you trust.
• A clear Will reduces confusion, legal issues and misunderstandings after your death
• Having a Will makes things easier for your loved ones
• With a valid Will, the process of applying for the Grant of Probate is generally quicker and easier.
• Making a Will gives you the peace of mind that your wishes will be honoured and your loved ones will be taken care of during a difficult time
Will comes into play at the date someone passes away, so is there anything that can be put in place during lifetime? Yes – Lasting Powers of Attorney (“LPA”). An LPA lets you choose who will make decisions on your behalf if you lose mental capacity to do so during your lifetime. If you do not have an LPA in place and lose capacity, no one can legally act for you without going through a long and costly court process, known as a deputyship application.
You can appoint attorneys who you know and trust, such as family members, close friends or professionals.
Many people assume LPAs are only for the elderly, but they are just as important for:
1. Younger adults at risk of accidents, brain injury or mental illness
2. Those undergoing medical treatment
Once the LPAs are registered with the Office of the Public Guardian (“OPG”), your LPAs gives the legal authority to your chosen attorneys to act on your behalf. It is a recognised document by banks, medical institutions and government bodies. Please note, that LPAs cannot be used until they have been registered with the OPG. The OPG are advising their timescales to be approximately 4 months for registration.
