Planning for the future – At What Age Should I Make a Will or LPA?

As long as you’re over the age of 18 years old, then there is no set age requirement to put a Will or Lasting Power Attorney (LPA) in place, but the earlier you do, the better prepared you will be for the unexpected. Planning for your future is an essential part of life, yet many delay making a Will or LPA until advancing years. It is important to understand that both Wills and LPAs are not just for the elderly or those with high value assets.

Wills and LPAs are vital tools for protection of your assets and ensuring your personal wishes are followed. By ensuring that you plan ahead, it enables you to provide security for not only yourself, but your loved ones too regardless of what the future holds.

Wills

Once you reach adulthood, it is a wise time to consider making a Will especially if you have assets or dependants, this ensures that wishes are respected and in turn can help prevent potential disputes among family members. As you accumulate more assets and your family grows, having a Will becomes even more important.

Wills can be updated as you go through the different stages of life, and it is important to keep reviewing them at least every 5 years.

Lasting Power of Attorney

Setting up an LPA early can help provide peace of mind for yourself or your loved ones. Accidents or illnesses can occur at any age and having that LPA in place ensures that someone you trust can make decisions for you. An LPA (and a Will) should be set up whilst you have the mental capacity to do so. Waiting until health issues arise can complicate the process, incur more fees and will require court intervention by way of a deputyship order.

Regularly reviewing and updating both of these documents as your life changes will ensure they remain relevant and effective.

At Pro-law, we can help you in drafting your Will or setting up your Lasting Power of Attorney. We ensure the documents are completed correctly so you don’t need to worry!