Since 2003 qualifying leaseholders have had the right to take over the management of their block...
- Our top, top tip is to make a Will NOW! It is easier and cheaper than you think and you will be so glad when you have done it.
- If you are lucky enough to own a ‘Home In The Sun’, make sure that you have a separate Will in that country to cover what happens to your holiday home when you die.
- Make a Lasting Power of Attorney NOW – you don’t have to be old to do this! You can choose who can look after your money for you if you are abroad, in hospital for a long time or if you lose your capacity. Make it now and it will last your lifetime.
- If someone close to you dies, focus on the funeral before you start worrying about dealing with the Will – that can usually wait.
- Plan your own funeral and take the pressure off your family; they will be so pleased not to have to guess what you would have wanted. Talk about your plans.
- Bereaved families sometimes argue about their deceased loved one’s personal possessions; make things easy for them and decide who gets which memento of you.
- Think about giving away mementos and jewellery to your loved ones during your lifetime; you may be delighted to see your grand-daughter wearing your special ring.
- Sort out your attic before you are 80! It saves your relatives having to do it after your death. You never know you might find a discarded Old Master!
- Remember you can make tax free gifts of up to £3,000 a year in total to anyone you choose and that there are also concessions on gifts to family members for various special occasions.
- Don’t forget to ‘nominate’ the death in service benefits under your pension in favour of your spouse, partner or children.