If you want to be sure your wishes are met after you die, then it’s important to have a Will. A Will is the only way to make sure your money and possessions that form your estate go to the people and causes you care about.
The Inheritance Tax residence nil-rate band came into effect on 6 April 2017. It provides an additional nil-rate band where an individual dies after 6 April 2017, owning a residence which they leave to direct descendants.
Whether you have earned your wealth, inherited it or made shrewd investments, you will want to ensure that as little of it as possible ends up in the hands of HM Revenue & Customs.
How much should you try to save to have a comfortable retirement? We spend a lifetime generating wealth and assets but not many of us ensure that it will be passed to the next generation – our children, grandchildren, nieces, nephews, and so on. Intergenerational wealth transfer is the passage of wealth from one family […]
Effective estate preservation planning could save a family a potential Inheritance Tax bill amounting to hundreds of thousands of pounds. Inheritance Tax was introduced in 1986.It replaced Capital Transfer Tax, which had been in force since 1975 as a successor to Estate Duty.
’Ring-fencing’ assets to minimise or mitigate Inheritance Tax Appropriate Trusts can be used for minimising or mitigating Inheritance Tax estate taxes and can offer other benefits as part of an integrated and coordinated approach to managing wealth. A Trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf […]
Taking control of decisions even in the event you can’t make them yourself A lasting power of attorney enables individuals to take control of decisions that affect them, even in the event that they can’t make those decisions for themselves. Without them, loved ones could be forced to endure a costly and lengthy process to […]
Don’t let scammers enjoy your hard-earned pension proceeds. Anyone can be the victim of a pension scam, no matter how savvy they think they are. It’s important that everyone can spot the warning signs.
Balance of flexibility and security to suit your circumstances If you are looking for a balance of flexibility and security to suit your circumstances, you could consider blending your retirement options. You don’t have to choose one option when deciding how to access your pension pot – you could set up a combination of options […]
Without very careful planning, you could run out of money and have nothing to live on You could close your pension pot and take the entire amount as cash in one go if you wish. Normally, the first 25% (quarter) will be tax-free, and the rest will be taxed at your highest tax rate by […]
