Are you embracing 2024? Is this the year where the possibilities are endless, and your resolutions are within reach?

If you're tired of setting goals only to see them vanish by February, fear not – we've got the inside scoop on how to turn your aspirations into achievements. So, let's make 2024 your year!

1. Set Clear and Achievable Goals

Before diving in, check your goals are crystal clear and achievable. Make them Specific, Measurable, Achievable, Relevant, and Time-bound (SMART). This way, you won't be lost in the resolution wilderness without a compass.

If your goal is to make and register your Lasting Powers of Attorney, you must factor in the extended registration period. Please don’t leave it until June 2024 to get started, or you may not achieve your goal, however determined you feel!

2. Start Small, Think Big

It's tempting to aim for the stars but begin with a single step. If you’re unsure how to tackle your goal, start with research.

If making a Will is on your list of resolutions, check out local firms’ websites. Do you get an instant good feeling? Do they publish their fees? Read reviews and testimonials, or ask your friends and neighbours for recommendations.

3. Enlist a Resolution Sidekick

Everything is better with a buddy, including conquering resolutions. Find a like-minded friend or family member to join you on your quest. Having someone to share the journey with makes it more enjoyable and provides a built-in support system.

For the critical stuff, choose a trusted professional to support you. Whether it’s a health or wealth goal, an expert will keep you on track.

4. Embrace Setbacks as Learning Opportunities

Resolutions aren't a one-size-fits-all deal. Expect a few hiccups along the way, and understand that setbacks are a natural part of the process. The key is to acknowledge them, learn from them, and keep moving forward with newfound wisdom.

If you made a Will a few years ago but had a poor experience, you have no obligation to stay with the same legal practice. If you used an online system but want to check if it’s still valid, most reputable will writers will review your documents for free. Better safe than sorry.

5. Make it Enjoyable

Who said resolutions have to be all work and no play? Inject some enjoyment into your goals to keep the momentum going. Whether trying a new workout, experimenting with healthy recipes, or learning a new skill, ensure you enjoy the journey.

Making a Will and Lasting Powers of Attorney doesn’t have to be gloomy. We don’t dwell on the taboo subject of death. In fact, you’d be surprised how often our client meetings included smiles and laughter!

Here's to 2024 being a year of growth and resilience and turning aspirations into accomplishments!

Is making a Will on your list of New Year resolutions?

Very few of us prioritise estate planning. Often, the loss of a parent or a change of family or financial circumstances prompts us to take action.

A personal perspective

After months of procrastinating, I recently updated my own Will to include a discretionary trust.

A significant change in our family’s relationships triggered me into action. I kept hoping the situation would be resolved with reconciliation, but it’s clear now that it won’t happen. To protect my family’s inheritance, should I die prematurely, I needed to create some safeguards. I completely understand my clients' reluctance when dealing with tricky family circumstances. When we’re caught up in the middle of relationship issues, trying to keep a level head, it’s easy for wishful thinking to take over. I tell all my clients that whilst making your Will might feel like a life event, it’s simply part of sensible financial planning.

My children and my grandson will always be my priority. If I survive my husband, I want them all to benefit. It’s important to remember that separation doesn’t extinguish the claim of a former partner or spouse. However unlikely it may be, I wouldn’t want a former partner of any of my children to inherit. A discretionary trust in my Will gives my executors and trustees the option to hold any inheritance until such a claim has ended (with a decree absolute).

The negative impact of dying without a Will has been clear to me for nearly three decades! The issues that were not clear and stalled my progress were the non-legal matters. Estate planning includes making choices, some of which may not be immediately obvious.

The emotional side of making your Will should not be understated. It can be a sensitive and thought-provoking time, but it shouldn’t be an uncomfortable experience.

A real sense of peace comes from knowing your plans are in place, and your priorities are addressed.

Guidance and providing clear choices are part of our process. There is no pressure. You don’t have to have all the answers at our first meeting.

Making a Will might be straightforward. Equally, it might take you on an emotional journey.

My husband assures me that our marriage is for life, but if I die before him, he hasn’t completely ruled out the idea of being with someone else. So, creating flexibility in our Wills to protect our children if either of us were to remarry is sensible financial planning. Truthfully, I might not like the thought of my husband moving on after my death, but I’ve planned for it, just in case.

How often should I update my Will?

It is essential to make a Will and update it regularly. Significant life events can change your priorities. The key is to focus on the critical decisions and not get hung up on hypothetical situations or consider endless ‘what ifs?’. Deal with the present and review when things change.

If you are thinking about making your Will or want to know what would happen if you die without one, get in touch. Our advice is always free of charge - you can’t make choices without knowing your options.

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