Contractors urged to draw up a 'Living Will'

Less than 30% of Freelancers have a Will and whilst many of us will view the administration of our affairs when we die as 'someone else's problem', Contractors are being urged to put their legal affairs in order in the event of incapacity.

The nightmare scenario painted by legal experts is one where your affairs are handled by the courts as a result of serious injury or illness.

Creating an Enduring Power of Attorney currently allows you to head off this catastrophe as far as your financial affairs are concerned but a properly constructed 'Living Will' or 'Verbal Advance Directive' is needed to ensure that doctors carry out your wishes regarding medical intervention to prolong your life.

Proving the content of a private conversation is difficult but a written directive cannot be disputed.

'After October '07 only a written directive will be accepted as proof of your intentions. That written instruction will also be binding upon your doctors to carry out your wishes and there will be extensive controls in place for this new 'Lasting Power of Attorney' document' says Neil Goram from National Legal Services.

Neil has been working alongside the IFAs at specialist financial advisers ContractorMoney for some time now and has found Freelancers particularly keen to address this issue. Neil adds 'maybe its because Contractors are a fiercely independent lot but they really do not like the thought of the State dictating even whether or not they can be allowed to die with dignity. I think its for this reason that they prefer not to leave things to chance'.

The 'Lasting Power of Attorney' will have many other options including the ability for you to appoint someone to take all or specific medical and health decisions on your behalf, as well as decisions about your financial affairs.

If you would like to talk through your options and discuss the changes that are coming into force later this year Neil can be contactable via ContractorMoney at our Contractors Will Service page.

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