An unfortunate reality to living longer is an increased risk that we will suffer reduced mental capacity. Something medical science has yet to conquer.
If our capacity declines significantly we may lose the right to make decisions for ourselves. This is commonly called a loss of “testamentary capacity”. When this occurs, we cannot change our Will or our Power of Attorney. What we have is all that we have.
It is therefore critical to ensure that we have current and valid documents which reflect our wishes. A Will to ensure that our assets will be distributed to our loved ones and an Enduring Power of Attorney to ensure that we have authorised the right people to make decisions for us when that becomes necessary.
We do not know when that time will come. It may be sooner rather than later.
It is therefore essential to have your documents in place now. Not next week, next month or next year. That may be too late.
Download our free eBook regarding Wills or our free eBook regarding Enduring Powers of Attorney from the website resource page.
If you do not have an existing Will and Enduring Power of Attorney contact McColm Matsinger Lawyers today. It is not difficult and we can help.