What Would Happen if You Were No Longer Able to Manage Your Finances?

Published: 19 March 2020

For many, this can be a delicate and understandably uncomfortable subject. However, you can take solace in the knowledge that arranging your Power of Attorney will ensure that a trusted person supports you should you no longer have the mental capacity to manage your affairs.


Furthermore, having a legal Will in place will ensure that your wealth and assets go to those you care about most. Without a Will, the management of your wealth will be regulated by the conventional rules of intestacy, meaning that your wealth is distributed according to guidelines which may not necessarily suit you. This means the majority of your estate might not go to who you intend.


For example, these rules do not necessarily guarantee that your spouse or living partner will automatically inherit all your possessions. In some cases, all your wealth can even pass to the crown. View our intestacy rules chart on our website under Library for more information.


Most people put off writing a will. However, this can be one of the most important financial decisions you ever make. Why should your hard-earned money pass down to people or organisations you are not interested in protecting? It’s never too early to draw up a Will to safeguard your wishes and protect the financial future of your family or your business.


At Cotswold Independent Financial Services, we work with people to draw up a Will to reflect their wishes and give them and their dependents peace of mind. Contact our experts today to draw up your detailed personal Will, or mirror Will, which will allow you and your spouse to share rules of inheritance.