Inheritance Tax Planning & 'Later Life' advice

Typically, for clients who are 'retired' who may need advice on estate planning, care fees, equity release or advice on their pensions and investments. Our aim is to guide you safely through the complexities of later life, providing advice, information and solutions to all your later life financial needs.

Why is later life advice so important?

People are living longer and looking closer at their retirement and whether they'll have enough funds. Many people in later life have been as affected if not more by the current economic downturn as anyone else.

Managing your finances for later life is as important as it has ever been. We're here to help you manage the maze of options and products available to you.

You may need to spend some time considering retirement planning advice and we can help you do this.

Retirement Planning advice for later life:

Inheritance Tax Advice - Inheritance Tax Planning and quality Inheritance Tax advice could help reduce the tax payable on your estate. We can help you to understand all the exemptions and planning options available and to ensure you know what is and is not achievable. This is now an area of advice where we are regularly asked for help.

Lasting power of attorney - it may be necessary to plan for passing on decisions about your finances to the people you love and trust the most. It will give you peace of mind if you are concerned about your future health or ability to make decisions for yourself. It's always a good idea to plan ahead. We do not set up LPAs for clients but we can refer you to a suitable local solicitor to review this.

Wills - it is prudent to look at your will to ensure that your estate is shared between loved ones in the way that you want. We do not write Wills but we can refer you to a suitable local solicitor to review this.

Downsizing - A smaller property with less maintenance costs that is more suited around your new lifestyle might make sound financial and practical sense.

Equity Release - if you are a homeowner and aged 55 or over you can use your home, as a way to boost your income in retirement. You can do this by releasing the equity locked in your property and releasing it as a lump sum. This is usually only a last resort action to take. We cannot make any specific recommendations but we can refer you other advisers that can.

Annuities - an annuity allows you convert your pension savings into a regular, guaranteed income during your retirement. An annuity could assist you in enjoying your later life safe in the knowledge that you have regular payments each month to pay for your living costs.

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Tax Treatment depends on the individual circumstances of each client and may be subject to change in the future.