Expat Steve says: Don’t leave it too late to make your will
Making a will and arranging power of attorney are easy tasks to put off. But long-time Costa del Sol expat […]
As long-time expat Steve Marshall has observed, many people tend to put making a will and arranging power of attorney on the back burner, believing they have plenty of time. However, he warns that it's essential to stop procrastinating and take care of these arrangements while still able to make informed decisions.
Marshall explains that procedures in Spain differ significantly from those in the UK, and lawyers are eagerly waiting for the moment when individuals might need professional assistance. He encourages people to address these matters without delay, especially as they age and their health and abilities may deteriorate gradually or suddenly due to serious illness or hospital stays.
He emphasizes the importance of having the right legal advice, particularly for expats with assets in both countries. Getting professional guidance on wills, estate planning, and powers of attorney is crucial to ensure assets are distributed according to the person's wishes and to prevent complications following their passing.
Marshall also stresses that simply having close relatives does not automatically grant them the authority to manage someone's finances or make decisions on their behalf if they can no longer do so themselves. Therefore, it's essential to consider how assets should be distributed and to establish suitable arrangements for both Spain and the UK, if necessary.
He urges readers to take professional legal advice and think carefully about their wishes for their assets and the distribution of their estate. Planning ahead can help families understand a person's intentions and prevent unnecessary complications during an already difficult time.
Marshall concludes by urging readers not to assume there will always be time to handle these matters later. "Please don't wait until it's too late. A little planning now, while you are still able, can spare your family considerable distress tomorrow." He also directs readers to the UK government website for information on making a lasting power of attorney in England and Wales, where they can find guidance tailored to their specific circumstances in Spain.
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