Gibson Kerr Solicitors Blog

The firm highlights that less than half of all UK adults have made a will and says that this so-called "will apathy" could have catastrophic effects for families throughout the country – as it means that they will not know whether they will receive the full inheritance they may have been expecting and this could create unnecessary feuds over money.

Partner Scott Rasmusen, who provides family law advice in areas such as wills, powers of attorney and executries, said: "The economy is still fairly flat and we are seeing more and more cuts being made to the public sector, which is leading more people to be fearful over their jobs and finances.

To identify the policy, Gibson Kerr used the Landmark Financial Asset Search (FAS) - a service that assists probate lawyers to identify potentially lost or forgotten financial assets that should be distributed as part of the administration of an estate. Scott Rasmusen, partner at Gibson Kerr, said that the policy could potentially have remained unknown and unclaimed if the FAS results had not unearthed it - and added that many people in Scotland also risked missing out on similar inheritances, because the assets are not included in their owners' wills.

For the carer, it can be emotionally-draining, stressful, and ultimately traumatic, especially if their parent or elderly relative becomes incapable through dementia or other age-related conditions. As if that wasn't enough to cope with, there is the bureaucratic nightmare of dealing with banks, pensions, insurance companies, tax offices, social workers, medical professionals, council finance departments and care homes. 

Many people are simply not prepared for navigating their way through the complex jungle of rules and procedures on top of the anguish involved.

Scott Rasmusen, who specialises in powers of attorney, executries and wills for his Edinburgh-based law firm Gibson Kerr, says one of the first steps is to set up a power of attorney document . . . in time.

The £2000 revamp has seen a number of dedicated sections created on the Gibson Kerr website, providing information on the four main legal areas that the firm specialises in – family & personal law, buying & selling property, financial & tax advice, and advice on legal issues arising out of getting older.

There are many ways in which we can protect our loved ones as they get older. This blog will explore some of the ways you can make provision for parents and grandparents futures. Including powers of attorney and equity release....

1. Grant Power of Attorney

A Power of Attorney (POA) is a document signed when you are well but perhaps envisage a time when you will not be able to manage your own affairs. It gives legal authority to another person to deal with aspects of the granter's business such as finances, property or personal welfare.

Lots of people don’t like to think about wills. It reminds them that one day they’re going to die. Others think that it must be complicated or tricky and both reactions are perfectly understandable. But now, more than ever, people need to use – excuse the pun - will-power.