Thinking about how well we are prepared for our futures As coronavirus (COVID-19) leaves many of us working from home surrounded by our families and loved ones, it is inevitable that we start to think about how well we are prepared for our futures.

Coronavirus (COVID-19) pandemic has brought savings back into sharp focus A combination of financial concern and falling household spending means that those whose incomes have survived the coronavirus (COVID-19) pandemic so far have been keener than ever to save their money.

Getting your pension finances back on track Do you know how much money you will need in retirement? What about how much you already have saved? Do you know what kind of income that might provide? Unfortunately the answer is ‘no’ for some people.

Giving you control over what happens to your assets when you pass away 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 the taxman and that it can be enjoyed by you, your family … Continue reading “Preserving wealth for future generations”

How to secure your family’s financial future? 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 generation to the next.

Don’t leave less money behind for your loved ones 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.

Passing on your wealth in the right way is key for its preservation The rise in property prices throughout the UK means that even those with modest assets may exceed the £325,000 Nil-Rate Band (NRB) for Inheritance Tax. On 6 April 2017 the Residence Nil-Rate Band (RNRB) band came into effect. It provides an additional … Continue reading “Inheritance Tax Residence Nil-Rate Band (RNRB)”

Don’t leave considerable costs and complications, alongside the heartache of grieving 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 … Continue reading “Where theres a Will theres a way”

Held for the benefit of a specified beneficiary They’re also known as ‘Absolute’ or ‘Fixed Interest Trusts’, and there can be subtle differences. The settlor – the person creating the Trust – makes a gift into the Trust which is held for the benefit of a specified beneficiary. If the Trust is for more than … Continue reading “Bare Trust”

Wide class of potential beneficiaries With a Discretionary Trust, the settlor makes a gift into Trust, and the trustees hold the trust fund for a wide class of potential beneficiaries. This is known as ‘settled’ or ‘relevant’ property. For lump sum investments, the initial gift is a chargeable lifetime transfer for Inheritance Tax purposes.