Why should I have a Will and Power of Attorney

A potential client contacted me recently saying they were thinking about writing a Will. She said that she was in her early thirties and had never thought much about a Will before but she thinks that she should probably get some advice. She said she was about to buy a house with her fiancée and owned an old car but otherwise did not really have many valuable possessions; any savings she had were going to be spent on her mortgage deposit. She said she was going to get married next year and maybe have children.

Writing a will and granting a power of attorney are often considered tasks for the elderly but these responsibilities are just as crucial for young people, even if they do not yet have any children. The unpredictability of life makes it important for individuals, regardless of age or family status, to prepare for unforeseen circumstances. Here is why it is essential for young people to get a Will and put in place a power of attorney under Scots law.

First, writing a Will ensures that your assets and possessions are distributed according to your wishes.

Even if a young person does not own much, they may still have valuable possessions, such as savings, vehicles or sentimental items. Without a Will these assets may be distributed according to the law of succession rather than personal desires, potentially causing conflicts among loved ones. This is especially important for young people as they may want to ensure that their life partner or any children they may have are provided for in the event of their passing. For those considering making a Will in Scotland, understanding the local legal requirements and ensuring compliance with them is particularly important.

Second, making a Will is crucial to ensure that relatives with whom you have no relationship do not inherit anything from your estate

The laws of succession dictate the default distribution of an estate if there is no Will, sometimes favouring blood relatives regardless of personal relationship. If somebody like this potential client wanted to ensure that estranged family members did not have any rights to inherit anything from their estate, a legally binding Will is the only way to ensure that their assets go to the people they actually care about. This prevents blood relatives with whom a person has no relationship from claiming a share of the estate and reduces the likelihood of these blood relatives contesting a Will, ensuring that their wishes are fully respected.

Next, setting up a power of attorney

Next, I told her about setting up a power of attorney. She had not heard of it before. Setting up a power of attorney is also vital for managing affairs if a young person becomes incapacitated. This legal document allows a trusted individual, often the partner, to make decisions on their behalf, including in respect of financial and medical matters. In the absence of a power of attorney these decisions might fall to someone less suitable or even to the courts, leading to delays and complications. Having someone trustworthy in charge, particularly someone who knows your values and wishes, ensures that decisions are made in alignment with your best interests.

Additionally, young people may not consider the possibility of sudden illness or accidents

Life’s unpredictability means that preparing for such events is wise. By taking these steps early on, young people can protect their loved ones from the burden of making difficult decisions without guidance. It also alleviates the potential stress of legal battles over assets or healthcare decisions during an already challenging time.

Young people should write Wills and grant powers of attorney to safeguard their wishes and protect their loved ones

These actions demonstrate responsibility and foresight, ensuring that in the event of the unexpected their affairs are handled smoothly and according to their intentions. For people here in Scotland, the Scots law of succession applies in the absence of a Will. The process of making a Will provides the legal framework needed to ensure a person’s wishes are respected after their passing, especially in terms of caring for any children, their spouses or partners and minimising the chances of anyone contesting a Will.

Quill Legal can take care of anybody who resides in Scotland and wishes to make a Will or grant a power of attorney. Please telephone to make an appointment on 0131 564 1044 or use our contact form