End of life planning: The way we talk about Dying Matters

The end of our lives is hardly something we generally consider to be appropriate dinner table talk. It is no wonder why we avoid these morbid conversations: death is scary as it constantly reminds us of our mortality and how short our lives could be. Nevertheless, it will happen to all of us and it should not be considered as something that rips us from our lives, but rather as something that teaches us to value the time we have.

As a society, we need to learn to have more open and honest discussions surrounding death and end-of-life, as this allows us and our loved ones to prepare for the inevitable. It is also important for these conversations to start sooner rather than later, even if it may not feel necessary for younger people. The reason is we never know what is going to happen tomorrow, or even within the next few hours!

The recent COVID-19 pandemic has proven that we can never anticipate what is ahead. The pandemic brought about devastating losses, with many experiencing the untimely death of their loved ones. The sad fact of the matter is that some of those who died had possibly never given any thought to their end-of-life arrangements and families were left in the dark.

With proper planning, you can explicitly document your wishes on various matters, including important decisions regarding the care and treatment you would like at end of life, your funeral wishes and how your assets should be distributed.

Wills

A Will is a legal document that sets out how your assets, such as money and property, should be distributed following your death. If you have young children, a Will can be used to name legal guardians for your children to ensure they are taken care of as you would want after your death.

Making a Will is particularly important if you are in a long-term relationship, but not married or in a civil partnership, since your partner will not automatically benefit from your estate if you do not leave a Will. A Will can also be drafted in a tax efficient way to mitigate any Inheritance Tax that may be due so your beneficiaries receive the maximum from your estate.

A Will also allows you to clearly express your funeral wishes, such as a preference for burial or cremation; although it is important to note that these are not legally binding. However, including them in your Will can reassure your family that they’ve made the proper choice, which can be incredibly comforting for them at a particularly difficult and emotional time.

It is recommended that you start considering making a Will early in adulthood and it is a document that you then continuously update throughout your lifetime. If you die without a Will, referred to as dying” intestate”, your estate may be distributed in a way that does not reflect your personal wishes, with a high chance of there being no provisions made for loved ones that you would have otherwise wanted to benefit from your estate.

An added benefit of having your wishes clearly expressed in a formal document is that it can ease unnecessary family conflict, although sometimes this is unavoidable.

How Can We Help?

The Succession & Tax team at Blake Morgan are a team of specialists with extensive experience in drafting Wills and LPAs. We can support you through the process of your end-of-life planning, as well as providing expert legal advice and guidance on the appointment of attorneys and any limitations regarding the decisions your attorneys can make and on making a Will.

We can also advise on the specific instructions and preferences to include in your end-of-life planning so that people act in accordance with your wishes, and with a focus on your best interests.