MEMBERSHIP OF CAFFUK ENTITLES YOU TO THE FOLLOWING BENEFITS and SERVICES
- Equity Release
Will Writing, Safe Custody of Documents, Estate Planning, Power of Attorney, Executor Services, Trusts: Extra Phone and Internet Discounts for CAFF UK members from the UTILITY WAREHOUSE: Enhancing Your State Pension:
- Contact past friends:
"Equity Release - securing additional income and/or cash out of the value of your home". Clearly, this only applies to UK residences and ones that are in some kind of occupation (there may be issues with tenancies, if you are renting out while living abroad, but we can look into this for you). This option of additional Capital and/or Income is proving to be a God-send to many who have seen such a decline in investment income, over recent years. It's also a useful facility if your beneficiaries are likely to be liable to Inheritance Tax Charges.Members are probably aware that there were some difficulties with these plans in the 1970's and 1980's, but we are only advising that you stick with SHIP plans (Safe Home Income Plans) which guarantee that your Estate will never owe more than the value of your home and guarantee your lifelong security there, so long as you need it.
To read or print further information on Equity Release then click here (WORD document 36kb).Click here to go back to the list of Benefits
|Will Writing, Safe Custody of Documents, Estate Planning, Power of Attorney, Executor Services, Trusts:|
These services are now being offered by authorised and practising members of the Beneficial Trust Company to the CAFF UK Membership at large discounts to what is normally available in the High Street. In addition, the company will pay 10% of their charge into the CAFF UK Bank Account! This will not amount to much of course, on an individual basis but, together with the lower initial cost, it certainly makes it worthwhile for the Federation, as Members begin to use these services.It is estimated that there are c. 28 million people in the UK alone, who have not written their Will and few realise that it is the Government coffers which benefit most, from this oversight (a recent example was a family known to me who lost over £200,000 like this!). Don’t let this happen to your family!Many of us also have Life Assurances which will have to go through Probate before our families can get their hands on any cash, worst of all, when they do many lose 40% of the value through Inheritance Tax charges. Don’t let this happen to your family! Do investigate the value of Trusts too which ensure that all your hard earned cash and valuables stay outside any Inheritance Tax assessment.How many valuable documents do you have in a drawer at the back of a cupboard, or in the spare bedroom? I didn’t think about this until a chap had a severe fire which totally destroyed his house recently. Apart from qualification papers and passports etc, I realised that I had the Title Deeds to two properties, a large number of valuable Share Certificates, four Life Assurance Documents and Health Assurance Documents. I’ll not tell you what they are worth, but I was astonished to realise what was just waiting to go up in smoke – apart from what the local burglars would make out of them!!Just check this out for yourself, and see whether or not you would be in any kind of a mess, if similar documents went missing from your back bedroom! We all need Safe Document Storage.If you are over 60 and, yes, many of us are, you also need to consider the value of appointing an Enduring Power of Attorney normally a close, younger relative. I cannot emphasise the value of this too much, since I have direct experience with my own parents. The Enduring Power of Attorney was written some ten years ago, and nothing happened after that because, at the age of 78, my parents were quite well, active and fit. However, by the time they were 87/88, they suddenly found themselves in residential care and, quite frankly, Dad had given up bothering with his post, pension, bank accounts etc. Consequently, he asked me to take over, and that’s all it took for the Enduring Power of Attorney to be brought into action. I was still writing cheques to pay his bills way after he knew what time of day it was – it was so easy for me, especially as I already had a very busy life, and needed things to be as simple as possible. The alternative is to claim authority from the Court, and that process is very complicated, long-winded and expensive, having to seek individual authority almost any time that you want to spend the smallest amount of money from the account.And do think about appointing Executors to your Will. Again your beneficiaries and your family will thank you for this, too – I just checked my Will and discovered that both my Executors died some time ago!Now you probably think that all this is too much to take in, and that it probably won’t matter to you – I can assure you of two things:
Although I consider myself very organised, I discovered how easily this process was, once in the hands of the professionals and I discovered that I had overlooked at least three of the items mentioned above
Yes, you’re right, it might not matter to you, but I can guarantee that it will CERTAINLY matter to the family that you leave behind!
|Phone and Internet discounts with the UTILITY WAREHOUSE|
VALUABLE DISCOUNTS FOR TRANSFERRING YOUR TELEPHONE, MOBILE, INTERNET AND UTILITY SERVICES TO THE UTILITY WAREHOUSE:THE COMBINED ARMED FORCES FEDERATION UK has negotiated direct assistance to help Members to transfer their services to The Utility Warehouse, registered on the London Stock Exchange (Telecom Plus) and one of the top 100 fastest growing companies in Europe.They offer the cheapest rates available within the UK. In addition, Mobile phone rates are now down to 8p per minute (many of you will still be paying at least 35p!) and the BT line rental is down by £18 per annum.
It’s a simple procedure to join and you can withdraw at any stage without penalty, if you so wish. Dave Green will help you through on our behalf on tel no: 01233 611701
Please let the Treasurer know once you transfer over to this service.
|Enhancing Your State Pension|
Your State Pension can be enhanced if you have had a gap in your NI Contributions at any time or, maybe, if you have worked abroad. Now is a good time to check your status with the National Pensions office and they will be able to tell you if you can make up any periods not previously accounted for. You will need to contact the Pensions Office and request a Form BR 19 (tel: 0845 3000168). Also, ask them about Stakeholder Pensions which you can draw as late as when you are 75.Everyone I meet is under the false impression that because they are a British Citizen, they will automatically qualify for a full State Pension. This is not the case. Although a joint Pension will only amount to something like £8,000 pa, it’s got to be better than finding out you only qualify for something less than that when you reach 65. This will be especially important as the Politicians are now talking about improving things for Pensioners and I guess that those who are fully paid up will be best rewarded, if this proves to be the case. It will also be worth checking out Agnes’ details, too.
Please let the Treasurer know if you experience any difficulties with this service.Click here to go back to the list of Benefits
|Contact Past Friends|
The Secretary General, David Robson would like to contact Tony Knight who used to travel with him by car to and from Netly to Yeovolton each weekend in 1959/60. Also "Cherry" Gould , Surbiton, Surrey, and "Jammy" Moulson, Gillingham "Up the Gills", he was at school with.Click here to go back to the list of Benefits