Discussing end of life matters with your loved ones can seem a bit of a taboo subject but taking control of your affairs now can save heartache and stress further down the line.

At Thomas Westcott we appreciate how traumatic it can be to deal with someone’s financial affairs after they die or fall seriously ill, especially for those with more complex family arrangements or substantial business interests.

Putting your affairs in order

That’s why we have produced a Lifetime Planning Checklist to help you plan in advance for getting your affairs in order and to make it easier for loved ones to cope.

The checklist includes 10 easy and practical steps you can take now, such as:

• Keeping an up to date record of login details, usernames, passwords and pin numbers for all your devices, online banking, social media and other websites.

• Maintaining a schedule of your assets and liabilities so that your executors, trustees or professionals can see at a glance what comprises your estate.

• Making sure you have made a valid Will and that it takes account of recent changes to Inheritance Tax rules to ensure your spouse or civil partner does not lose out.

• Taking out additional low-cost life cover that can provide a spouse or partner with a tax-free monthly income should you die before a specific age.

• Keeping important documents together and making sure your executors know here they are.

Thomas Westcott Chartered Financial Planners can help with all aspects of estate planning. Our professional team are easy to talk to and explain issues in straightforward terms.

CLICK HERE for your copy

 

By Andrew Brown, Director and Chartered Wealth Manager