Flexible Trusts with default beneficiaries
Discretion over which of the default and potential beneficiaries actually benefit These are similar to a fully Discretionary Trust, except that alongside a wide class of potential beneficiaries, there must be at least one named default beneficiary. Flexible Trusts with default beneficiaries set up in the settlor’s lifetime from 22 March 2006 onwards are treated […]
Split Trusts
Family protection policies These Trusts are often used for family protection policies with critical illness or terminal illness benefits in addition to life cover. Split Trusts can be Bare Trusts, Discretionary Trusts, or Flexible Trusts with default beneficiaries. When using this type of Trust, the settlor/life assured carves out the right to receive any critical […]
Lasting Power of Attorney
Taking control of decisions even in the event you can’t make them yourself A Lasting Power of Attorney (LPA) enables individuals to take control of decisions that affect them, even in the event that they can’t make those decisions for themselves. Without them, loved ones could be forced to endure a costly and lengthy process […]
Protecting your assets for the next generation
Six tips for wealth preservation and transfer planning Whether you have earned your wealth, inherited it or made shrewd investments, you will want to ensure that as little of it as possible ends up in the hands of HM Revenue & Customs.
Care in later life
Making the difficult choice between live-in care and a care home One of the biggest challenges of the 21st century is Britain’s ageing population. As later-life care becomes more prevalent, whether you are considering this for yourself or a relative, covering the costs involved can be significant.
Future financial health
Taking the time to take back control over retirement savings With all that has been going on in the world this year, for many people it’s been really difficult to feel as though they’re in control of much. However, some people have been in the fortunate position of being able to take the opportunity to […]
Investing during retirement
Why it’s important not to view your portfolio with an element of finality Retirement is a major accomplishment for most people. You’ve worked hard all of your working life to save and prepare for your retirement, and now you’ve finally retired. So how should you approach investing now that you’re no longer earning a salary? […]
Planning to leave a family legacy?
Impact of coronavirus (COVID-19) on Will making We are living in extraordinary times right now, in the grip of a global coronavirus (COVID-19) pandemic. Many people are concerned to ensure that their affairs are in order and that they have made a Will, which is one of the most important legal documents you can create […]
Delaying retirement
Pandemic forcing a widespread rethink of retirement plans The coronavirus (COVID-19) pandemic crisis has thrown some of the nation’s retirement plans up in the air. As a result, a number of people over 50 and in work are set to delay their retirement (15%) by an average of three years, or keep working indefinitely (26%) […]
Rewritten retirement rules
Looking to discover what you can do with your pension pot? In 2015, the retirement rules were rewritten. The rules, which came into effect from 6 April 2015, have changed the way people take money out of their pensions, with new freedoms and options available to anyone over the age of 55.