It happens. A useful checklist for putting matters in order when dealing with someone who is getting old (even yourself!) could be as follows:
1. Get a Will made. Dying without a Will leaves a problem for those left behind.
2. Get a Lasting Power of Attorney made. Most people have had the experience with a family member or friend where they reached a point where the friend or family member could no longer deal confidently with key decisions regarding their health or finances and would benefit from help from someone they can trust. The Lasting Power of Attorney (LPA) puts an arrangement in place so that the named person or persons can act on behalf of their friend or family member.
3. Make a plan regarding any Inheritance Tax that might have to be paid when you die. For those who
add up the value of their estate including property value and find it is less than £325,000, a simple note showing what you added up – the items and their values, would probably be enough of a plan.
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