We’ve Potentially Saved Client £76,000 Inheritance Tax Bill

Inheritance Tax Sutton ColdfieldOur job as Financial Advisers is to help you get the returns you want from your savings and investments. It is also to reduce the amount your family will need to pay in Inheritance Tax when you pass away, and sometimes through effective planning your estate won’t need to pay any at all.

There is much more detail about how we have helped our client with her estate planning on our estate planning web page, but in a single sentence this is what we’ve been able to achieve. The client has enough income to live on, enough capital to fall back on and she has saved her children a potential Inheritance Tax bill of £76,000.

Planning for what happens to your money after you have passed away is complex, and always changing. For example only recently Chancellor of the Exchequer, Philip Hammond has written to the Office of Tax Simplification to put forward proposals “to ensure the system is fit for purpose”. This will include looking at the annual threshold for gifts. And over the past 3 years there have been changes that affect pension assets. So we recommend you seek professional expert advice from your Financial Adviser in Lichfield and surrounding areas on Inheritance Tax planning.

The value of pensions and investments and the income they produce can fall as well as rise. You may get back less than you invested.

Tax treatment varies according to individual circumstances and is subject to change.

Tax Planning and Auto Enrolment is not regulated by the Financial Conduct Authority.

Estate planning is not regulated by the Financial Conduct Authority.

Different Kinds Of Life Insurance In Lichfield

Life insurance Lichfield
Looking For Life Insurance in Lichfield?

According to Staffordshire County Council, in 2017 the population of Lichfield was 103,000 and over 5,000 of the population was aged under 4 years old. That’s a lot of children and therefore a lot of parents who will be looking to make sure their youngsters are financially provided for if the worst was to happen.  That’s where life insurance for Lichfield residents could help.

There is no such thing as a one-size fits all, so it is prudent to get advice from professionals on all financial matters for your specific requirements. This is because there are a wide range of policies available and different types of life insurance for Lichfield inhabitants to be aware of.

The three main types of policies that are often recommended are, level term life insurance where the cover remains constant throughout the term of the policy. Then there is decreasing term insurance, where the level of cover reduces in line with say the outstanding amount of your mortgage. And the third kind is whole-of-life, which as the name implies doesn’t usually have an end date so you pay premiums until you die and then the policy pays out. Many people buy life insurance in Lichfield to protect their families and often this is at the time they take out a mortgage.

If you are looking to provide a financial safety net for your children whilst they are growing up, or to cover your mortgage which is typically 25 years, then term insurance could be most appropriate, but this does of course depend upon your individual circumstances.

If you are looking for life insurance in Lichfield, you could talk to one of our qualified Financial Advisers who would be delighted to speak to you about life insurance in Lichfield, at your home or our offices. Your first meeting is at our cost and you are under no obligation following this meeting.

Your home may be repossessed if you do not keep up repayments on the mortgage.

This Payment Protection Insurance is optional. There are other providers of Payment Protection Insurance and other products designed to protect you against the loss of income. For impartial information about insurance, please visit the website at www.moneyadviceservice.org.uk

Hopes And Dreams Don’t Have To Be Wishful Thinking

As financial advisers you expect us to deal in facts and Financial Planning Sutton Coldfieldfigures, which is correct. But we believe that the facts and figures are the means to achieving your hopes and dreams.  After all, what are you working for?  What is the point of accumulating money and wealth for the sake of it?  We are actually in the business of helping our clients to achieve their hopes and dreams.  Whether this is to move to your dream home, be mortgage free, work less or retire early.

How we achieve this is through the knowledge and experience of our financial advisers in Sutton Coldfield and the greater Birmingham area, and through the use of exceptional industry leading software. The software we use creates visual images of your current circumstances and financial future.  The graphs are easy to understand and when you have a meeting with your financial adviser you can play out ‘what if’ scenarios in real-time and there and then see how this changes your plan.

For more information please visit our Lifestyle Financial Planning page, or contact our Client Liaison Team to make an appointment. Our initial meeting with you is at our cost and together we will quickly establish whether you want to embark upon making your hopes and dreams a reality.

The value of pensions and investments and the income they produce can fall as well as rise. You may get back less than you invested.

Your home may be repossessed if you do not keep up repayments on the mortgage.