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I'm 56 and have 7 rental properties, 6 in uk which have equity of around £35000 each and a villa in spain?

which is unencumbered and worth around £250,000. I have regular income from the properties but don't want to leave it all behind when I die. I want to ensure that I and my partner use as much of the equity up during our lifetime. If I were to live to the age of say, 80 and my partner who is currently 48 should live to the same age, what would be the best way to do this. Currently I'm thinking, sell them off gradually, but when do I start selling to make sure I don't run out of money. I have just taken out a mortgage of £125,000 for 8 years on the bungalow we now live in. We also own a motorhome worth about £50,000 which we want to keep for another 3 years or so, so this could be put into the equation. Our only large expenditures would be on holidays.
By the way, I retired early but we currently run a small business, which brings in an income of about £1000 per month net.
we don't have an extravagant lifestyle, and yes I have my own ideas but isn't this forum to explore other peoples ideas and opinions, no I'm not trying to appear shrewd and clever, I'm asking a genuine question. Getting professional advice usually means speaking to someone who has something to gain, for example a pension fund adviser. Where does one go for independent, objective advice.
This is the second time I've used Yahoo answers and I'm finding people here to be unhelpful to say the least, I shan't bother with it again. Not a good community to be a part of.
Looks like you've all rated each others answers, nice.

Public Comments

1. Are you really saying that you have built up all of these assets and cannot work this out for yourself.

The answer very much depends upon how extravagant a life style you wish to have.

Or are you just wanting everyone to know how shrewd you think you are as a business man.

2. Get yourself some decent professional advice - can you afford not to...?

3. This is a Q&A site not for ideas. You need to talk to a Financial Advisor or your Accountant.
UK

4. I'd start with the Spanish properties, selling them may be difficult, secondly I'd work out any capital gains and sell one property per year to keep within permitted gains, or as close as possible.
I'd plan to have sold all properties by age 65 years and invest cash deposits.
Of course you don't know your life span, you may be run over tomorrow but without the properties life will be easier and there is no concern with lettings, maintenance, insurance, account keeping!

5. Your financial situation is complex. You say your uk rental properties have equity of 35k each? -So I take it there is borrowed money there or are they only worth 35k each? Have you thought of the capital gains the taxman will be looking for if you sell? Are half of your assets in your partners name? If you were married that would make a difference. Do you have children or people close to you that you could sign your assets over to (You only need to live 7 years to avoid the taxman). Have you thought of your partners situation if (or when) you die? There are possibilities with trust funds?
In short, you need some Professional advice. Any thing they charge you is peanuts compared to what you will lose if you don't sort this.
Finally I would not be to bitter with your answers, you do get some prats on here but lots of advice is good. To be fair many people on this forum are not to wealthy and your 'problem' is one many of them would not be to upset about.
Best of luck !