To make the best of these treasured years, ideally you will be in good health and also have finances in place to enjoy yourself. However, many people will need some form of care in later life, perhaps at home or in a residential setting and unfortunately when your health deteriorates, this care can become very expensive. Do you know how you will fund any long-term care requirements?
Read MoreWhen a person makes a power of attorney (POA), they appoint someone else to act on their behalf. The person making the power of attorney is called a donor and the person appointed to act on their behalf is called an attorney.
The role of an attorney is complex and there are risks. Make sure you are aware of your responsibilities before agreeing and know where to seek help if it is needed.
Read MoreAs you are undoubtedly aware, an ISA is one of the most tax efficient investment vehicles possible. However, did you know that ISAs are included within your chargeable estate on death and are therefore subject to Inheritance Tax like any other asset?
It could be that your family end up paying 40% tax on the ‘tax-free’ ISAs you worked so hard to build up!
There is a solution. Since 2013 it has been possible to invest in Inheritance Tax-Free ISAs. Enabling individuals to do inheritance tax planning within the ISA tax wrapper for the first time.
Read MoreIf you don’t already have a solid plan for your retirement – or even if you do, when you’re nearing your retirement it’s a good idea to review your options and seek advice. You need to understand the choices for accessing your pension and make a plan for drawing down income from it to ensure you can enjoy the retirement you deserve.
Read MoreBusiness Property Relief (BPR) can provide a valuable relief from inheritance tax. Investments that qualify for BPR can be passed on free from inheritance tax upon the death of the investor, provided the shares have been owned for at least two years at that time. There are a number of critera that must be met. Read on to find out if BPR could be suitable for your situation and risk appetite.
Read MoreIn order to ensure that on your death your wealth is distributed in line with your wishes, it is essential you make arrangements. Consider the following steps in organising your estate plan.
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