- Make or review your own Will.
- Encourage family members to make or review their Will.
- Make your own Lasting Power of Attorney - LPA.
- Understand the difference between a Property and Financial Affairs LPA and a Health and Welfare Lasting Power of Attorney.
- Encourage family members to make the sort of LPA that is appropriate for them.
- Give away money to save tax; see the HMRC website www.hmrc.gov.uk and follow the links to Inheritance Tax and then to Gifts that are exempt from Inheritance Tax.
- Enjoy seeing others enjoy what you have given them.
Severing a joint tenancy
- If you own a property in joint names, consider if you ought to sever a joint tenancy. See our notes on Joint Owners.
Declarations of trust
- Do you need to make a declaration of trust about any life assurance policies that you have or any other property ? It can be a way of reducing the value of your own Estate but still keeping money ‘in the family’.
Nominating pension benefits
- Consider making a nomination in respect of the benefits under your occupational pension scheme; this is particularly necessary if you have two families to think about. Nominated benefits are usually made available to your family very soon after your death and before the rest of your Estate can be administered.
- Do you want to specify, as far as you can, what medical treatment you do and do not wish to receive if you become unable to give your consent at some point in the future? You might deal with this topic by way of a Health and Welfare Lasting Power of Attorney. Talk it through with us.
- Decide, one way or the other, if you are going to take the steps necessary to become an organ donor after your death.For information on how to become a donor see the NHS Blood and Transplant website. Discuss it with your family and friends.
Get some advice
- Not only from us; but
- From an Accountant - about tax planning?
- From a Financial Advisor - about investments or equity release?
- From a Mortgage Broker - about a better deal ?
- From Citizens Advice Bureau - about debt?
- It is very easy to keep putting off getting the advice you need.
Plan your funeral
- Make sure your family know what you want – they will be pleased you did so.
- Write it down.
Put your affairs in order
- Take stock of things.
- Mend any fences that need mending with family and friends while you can.
- Is it time now for that health check or that new hobby or that holiday of a lifetime?
Do something about it!
- Come and see us and talk them over. Initial Interview.
- If you think a friend or family member might find them interesting, please tell them.
- Ask us to come and talk to your social group such as WI, Probus or your Church.