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An estate planning checklist…

It’s all very well hearing constant reminders that you should have all of your estate planning ‘in order’, but what does this actually mean?! Here’s a quick checklist to cut through the jargon and help you get focused :

  1. Have you made a will?
  2. Is your will up to date, reflecting any significant life changes that have occurred over that last 5 years (i.e. the birth of a child, marriage, divorce etc)?
  3. Has your will been executed? (This means you have signed it in the presence of two independent witnesses who were both present at the time to witness you signing your will). Wills that have not been executed properly may not be valid.
  4. Have you stored your will safely (but not so safely that you can’t remember where!)? It is inadvisable to store your will at home.
  5. Have you advised your Executors where your will is stored?
  6. Have you put Lasting Power of Attorney documents in place for your health and finance matters?
  7. Have you registered your Lasting Power of Attorney documents with the Office of the Public Guardian? LPAs that have not been registered are not valid and must be registered while the donor still has mental capacity.
  8. Similarly to point 4, have you stored you LPA documents safely. The originals will be required if your attorneys are ever required to make decisions on your behalf.
  9. Have you spoken to your close family members about your funeral wishes? Although these are often contained in your will, it is often the case that your will is not looked at until after your funeral has taken place.
  10. Review, review, review! Life, as we know, is a rollercoaster of changes and events, so be sure to review your will and/or Lasting Power of Attorney documents every 5 years or upon any significant life event.

If you would like to make an appointment, or would simply like a free no-obligation chat, please get in touch here.

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