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What’s Your Landlord Backup Plan?

What's Your Landlord Backup Plan?

Planning for the unexpected is essential, especially when it comes to being a landlord. Legacy and succession planning are crucial aspects that every landlord should consider. Life can throw unexpected challenges our way, such as illness or being unable to work, which may impact our ability to manage rental properties effectively.

Get your Will & Power of Attorney together with Quality Professional Estate Planning

When it comes to important legal documents such as a Landlord Will and Power of Attorney, seeking professional assistance is crucial. A qualified willwriter who is either IPW or STEP qualified will have a thorough understanding of the legal requirements and complexities involved in creating these documents.

Landlords, in particular, should consider the significance of having a well-drafted Landlord Will and Power of Attorney. These documents ensure that your assets, including your property portfolio and net worth, are protected and distributed according to your wishes.

While there may be online platforms that offer template documents, it is essential to remember that these may not provide the level of expertise and personalization required for such important matters. By consulting with a professional willwriter, you can have peace of mind knowing that your Landlord Will and Power of Attorney are tailored specifically to your unique circumstances.

Investing in professional assistance when it comes to these legal documents is an investment in safeguarding your assets and ensuring that your wishes are respected.

Make sure someone is there to hold it together with a Backup Property Manager

One important aspect of your landlord backup plan is establishing a relationship with a trusted lettings agent. They can step in and handle day-to-day operations if you are unable to do so temporarily or permanently. A reliable lettings agent will ensure tenant responses are addressed promptly, maintenance issues are resolved, and rent collection remains uninterrupted.

As a property specialist, Legacy Guardians will take all of this into consideration when putting together your probate plan. This means that should your family decide to sell there will be someone on hand to keep the properties ticking along, even someone to make sure of a smooth eviction should your family want to sell. 

Imagine if one of your certificates had lapsed while they were grieving? It would just add stress to an already upsetting time.

Organise all your documents in a Digital Vault

In today’s digital age, keeping track of important documents can be a challenge. That’s where a digital vault comes in. A digital vault provides a secure and convenient way to organise all your landlord and legacy documents in one place.

Think of it as a virtual safe deposit box, where you can store and access all your important documents with ease. From wills and trusts to insurance policies, tenancy agreements, property certificates, and more – everything can be securely stored in the digital vault.

One of the key advantages of using a digital vault is the high level of encryption that ensures your documents are protected from unauthorized access. Only those with keyholder access, such as yourself or trusted family members, can view or manage the contents.

Moreover, having your documents stored digitally means that they are not susceptible to loss or damage like physical copies. In case of unforeseen circumstances or emergencies, you can easily retrieve your important documents without any hassle.

Additionally, a digital vault also provides peace of mind when it comes to legacy planning. You can designate who should have access to your digital vault after your passing, ensuring that your loved ones have the necessary information at their fingertips when they need it most.

It’s worth noting that accessing the digital vault may require proper identification to protect against unauthorized use. This adds an extra layer of security to ensure that only authorized individuals can gain access to sensitive information.

Work out the value of your estate using our Inheritance Tax Calculator

Planning for the future can be a daunting task, especially when it comes to matters of inheritance and taxes. That’s why we’re here to offer you a helping hand with our Inheritance Tax Calculator.

Our calculator is designed to assist you in determining the value of your estate, taking into account all aspects such as property, businesses, investments, pensions, crypto and digital assets, personal guarantees, and even life insurance payouts. We’ve got all bases covered so that you can have a comprehensive understanding of your net worth.

By using our user-friendly calculator, you can easily navigate through the complexities of inheritance tax thresholds and ensure that you are well-prepared for any potential liabilities. We understand that every individual’s circumstances are unique, which is why our calculator takes into consideration various factors that may affect your estate’s value.

We aim to provide clarity and peace of mind when it comes to managing your estate. Our Inheritance Tax Calculator is here to empower you with valuable information so that you can make informed decisions about your financial future. Let us help you navigate through the intricacies of inheritance tax planning so that you can secure a prosperous legacy for your loved ones.

Take away the burden of financial admin with our Pre-Organised Property Probate

At a time when families are already under immense emotional strain, dealing with the financial admin involved in probate can be overwhelming. The lengthy court processes and time pressures only add to the stress. That’s why our Pre-Organised Property Probate service is here to help.

We understand that navigating through probate can be a long and arduous journey, which is why we aim to take away the burden from your loved ones. Our team of professional probate administrators will hold their hand every step of the way, providing comfort and support during this difficult time.

By organising your property probate in advance, you can ensure they won’t have to face unnecessary financial worries on top of their grief. Our service not only offers top quality customer service, but also peace of mind knowing that everything is taken care of beforehand.

Let us alleviate the stress and complexities associated with probate so you can focus on what truly matters – cherishing the memories you all made together.

Legacy Planning can be complicated… time to stop researching and start doing!

Vikki Baptie

NRLA Accredited Landlord and IPW Professional Will Writer

I’m Vikki, the founder of Legacy Guardians. I hope this article was helpful, but I can probably guess that it’s about time that you stopped researching and got on with getting everything in order.

I know how it can be hard juggling everything with 15 properties, 3 kids, 1 dog, 1 Property Business and another couple of trading businesses things like succession and legacy planning usually go on the backburner. (thank goodness for my business & life partner Shaun!)

Take back your time, and gain that all important financial peace of mind by working through my Landlord Legacy Framework.