If retirement is beckoning, make sure you have your legal affairs in order. Six essential things you should do are:
1. Check your will.
A will is your opportunity to detail your assets and wealth and decide how and to whom you wish it to be apportioned after you pass away – hopefully a long time away!
2. Establish a Lasting Power of Attorney.
If you plan to travel in your retired years, obtaining a Power Of Attorney online from a solicitor such as //powerofattorneyonline.co.uk provides peace of mind that someone else can manage your property and finances in your absence.
3. Review the ownership status of your property.
If you jointly own property with a partner, spouse or child, check which type of joint ownership you have and update this if necessary.
4. Make a list of your digital assets.
If your digital assets are not included in your will, your loved ones will be unable to access them after you pass away. Write down the accounts and passwords that matter, detail them in your will and specify who may access them.
5. Appoint an executor.
An executor has the important role of administering your estate so it is important that they know your wishes. Speak to them, share your preferences and tell them where your documents are.
6. Store your legal documents securely.
Most solicitors offer secure document storage but if you’d rather keep your documents at home, make sure they are in a fireproof and waterproof safe and that your executor can access them when needed.
