There is something else we need to look at โ planning how we will transfer our wealth to the next generation when we will be using it no more. This is estate planning. Like every other aspect of finances, in the wake of the coronavirus, it may need a fresh look.
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We all know we need to make a Will, but as many as 60% of UK population seem to put it off, probably because they prefer to believe that there is plenty of time to make the arrangements they need.
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If we think about old age at all, most of us donโt like to think about the possibility that we may no longer be able to look after ourselves. Sadly, it is something many of us will face. If we donโt take the necessary steps now, we could be storing up trouble for ourselves and our loved ones. The necessary steps are to set up Lasting Power of Attorney, or LPA.
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