Monthly Archives: February 2017
Who will be opening a new ISA in 2017?
Five million over-50s looking to make their money work harder
Savers have had it extremely tough over many years now, and yet many still feel uncertain about making the switch to investing. This is largely because people don’t know quite where to start, and they are wary of the risk. However, people need to make their money work harder for them – not just to give them a higher level of income, but also simply to stop their money losing value in real terms.
A little today, a lot tomorrow
Managing investment risk during turbulent markets
A common mistake that some investors make is not diversifying their portfolio enough. To make sure investments are spread across different asset classes, it could contain a blend of equities, bonds, cash, property and others (such as commodities and gold) to benefit from their changing investment cycles.
Making a Will
Is it time to think about what you have and what you want to happen to it?
Everyone should have a Will, but it is even more important if you have children, you own property, you have savings, investments or insurance policies, or you own a business.
Lasting Power of Attorney
Filling the gap if you lose the capacity to deal with your affairs
There is a distinct possibility that you could lose the capacity to deal with your affairs well before you die. Lasting Powers of Attorney (LPAs) are intended to fill the gap. An LPA is important, and it should be drawn up while you still have full capacity (they are often dealt with at the same time as a Will). Bear in mind that incapacity could be triggered by an accident or a sudden illness, rather than gradual decline.
Inheritance Tax
Taking advantage of the new rules that apply from 6 April 2017
Unforeseen life events and circumstances can potentially impact your finances in a number of ways. We can help you to safeguard your wealth for future generations.
It’s good to give
Inheritance Tax exemptions
Making a gift to your family and friends while you’re alive can be a very effective way to reduce the value of your estate for Inheritance Tax (IHT) purposes and benefit your loved ones immediately.
Alternative exemptions
Reducing the amount of Inheritance Tax payable on other assets
Business
Depending on how you own the business and what type of business it is, you could receive either 50% or 100% tax relief on it. Business Relief reduces the value of a business or its assets when working out how much Inheritance Tax (IHT) has to be paid.
Trusts
An important part of your estate preservation process
If you want to mitigate the effects of Inheritance Tax (IHT) on your estate, trusts can be an important part of the process. When you put cash, property or investments in a trust, provided certain conditions are satisfied, you don’t own it any more. This means it might not count towards your IHT bill when you die.