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Putting Your Affairs in Order

Estate Planning Advice

Follow these steps when doing estate planning:

Draw up a Will

If you don’t have a will make sure you get one done as soon as possible. You can then make sure your assets and valuables go to the right beneficiaries. Appoint an executor for your will. Your solicitor can help you draw up a will for your specific needs. A carefully drawn up will helps reduce inheritance tax.¹

Keep Your Files in Order

Keep essential documents in one file. Let your executor or family member know where it is. Records in this file should include your will, property deeds, bank details, bills, insurance and loan documents, birth and marriage certificates, tax certificates, and investment documents.

Pay off Debt When You Can

If you can, pay off any debts, you owe before you die. This makes it easier to distribute assets and wealth quickly to your beneficiaries. ²

Plan for ill Health

Get a power of attorney while you can. This will enable someone to act on your behalf if you become too ill to look after yourself or your financial affairs.

Common Questions

What Is Meant by Estate Planning?
When Should You Do Estate Planning?
What Is the Difference Between Will & Estate Planning?
What Are the Advantages of Estate Planning?

In Conclusion

Estate planning is something we all have to do. It’s essential to look at your financial affairs and carefully plan out how you want your assets to be distributed when you die. Putting your affairs in order can help you to avoid paying inheritance tax and make sure your beneficiaries are well looked after.

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