If nothing else, we’d therefore urge you to do the following:
Manage what you can, ensure your Will is up to date and people know where it is. Ensure you keep full records of your assets where people can find them.
As you will have seen, different assets are treated in different ways. Take care when distributing your assets and always get advice.
Discuss your situation with those who will be affected by this. Ensure they are aware of where everything is. If you are considering gifting your assets, do take advice. However, on the basis that you will be giving your assets away at some point, think about the difference you can make now, rather than when you are gone.
Remember, this Guide only deals with what happens to your assets on death and potential ways to manage your circumstances. For more specific information around gifting assets and the implications for IHT, we would encourage you to read our IHT Guide.
It may seem a little macabre to be planning your own death, but if you really wish future generations to fully benefit from your hard-earned savings and investments, the quicker you start planning, the better it will be for everybody.
We hope you found this guide useful. Keep an eye out for more in the series of guides. In the meantime you can find further information on our website, www.psaspire.co.uk.