Louise Eccleston – solicitor and partner at Chester law firm Storrar Cowdry – writes for LBN on the importance of having an up-to-date Will and putting Lasting Powers of Attorney in place

Viewers of ITV’s Martin Lewis’ Money Show recently watched the personal finance expert highlight the need for everyone to have an up-to-date Will and put Lasting Powers of Attorney in place.

During the programme, Martin offered food for thought for any adult without a Will or whose Will might be out of date.

He reminded those watching that couples living together do not inherit from each other without a Will. Married couples and those who have gone through the ceremony of a civil partnership have set rights – these rights do not apply if you are unmarried.

Workplace pensions are often nominated to a chosen beneficiary. However, these are not controlled by the terms of a will. The programme raised the concern that people forget to change their nomination, resulting in their ex-spouse receiving their pension lump sum.  

It’s very important to nominate guardians, to care for children under 18, if both parents have died. Your Will states who should take on this role. 

Also, in a Will you can nominate executors who will hold money for children in trust until they reach a suitable age, where they may be less influenced by others.  

Lasting Powers of Attorney are essential documents to care for you while you are alive.  There are two types: one to access your money for your benefit and one to make decisions about health and care if you have lost mental capacity. 

Both of these documents should be considered well in advance of any deterioration of your health.

At Storrar Cowdry we have a team of expert solicitors able to advise you on the best structure for your will and your Lasting Powers of Attorney. We will consider the issues that apply to your personal situation and give advice on the options available to protect those you love.

For further information click www.storrarcowdry.com or contact Louise Eccleston at:

Storrar Cowdry,

16 White Friars,

Chester, CH1 1NZ

You can also email louise.eccleston@storrarcowdry.co.uk or call 01244 400567.