Our 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.