This week we saw positive signs that the ease in coronavirus lockdown…
Thinking about estate planning?
The importance of a making a Will
Our independent view on the October Budget
FAQ - Will I have to pay inheritance tax?
Guidance vs. Advice, (and hope to get the best from them)
I have just completed some work for the chairman of a local charity I am treasurer of, which raised a few issues about how you research your pension options. Having contacted his pension provider, he was just about to cash his main pension in when he read the small print on the pack they sent him. The elephant in the room for Pension Freedom is the tax due to HMRC if you take your pension as cash; the bill for him could have been enough to buy a very nice, shiny car!
A cautionary tale of not planning for Inheritance tax in time
Politely avoiding Inheritance Tax
As time goes on more and more estates are falling within the embrace of Inheritance Tax, with central government, (flagged by the Office for Budget Responsibility, OBR), expecting the tax take to go from £4.7Billion for the years 2015/16 and 2016/17 to £5.0Billion in 2017/18 and up to £6.2Billion in 2021/22.
Why bother with Lasting Powers of Attorney?
Most financial planners, ourselves included, try to persuade clients to draw up wills and “Lasting Powers of Attorney”, as these are the building blocks for any realistic strategy to protect family wealth. Whilst Wills deal with our assets on passing, Lasting Powers of Attorney (LPAs) relate to decision making and mental capacity during your lifetime.
