Are you among the many families unprepared and lacking structured plans?
The world is on the verge of an unprecedented intergenerational wealth transfer, with projections estimating that by 2047, an astonishing £5.5 trillion will change hands[1]. Despite this monumental shift, many families remain unprepared, lacking structured plans to ensure their financial legacies are preserved or distributed according to their wishes.
Understanding the financial impacts of divorce over 50
Divorce later in life can be a complex and emotionally taxing process, particularly for couples over the age of 50. Wealth derived from property often takes centre stage in these discussions, as it typically represents the most significant financial asset that couples possess. According to recent research, 11% of couples experiencing a ‘grey divorce’ utilise funds from their property, whether by selling it or accessing equity release, to cover the costs of separation[1]. This statistic highlights the crucial role that property plays, not merely as a home, but as an essential financial resource.
Especially when your primary aspiration is to pass on as much wealth as possible to loved ones
Inheritance Tax (IHT) planning is essential for managing your estate effectively and ensuring the wellbeing of your loved ones. Changes highlighted in last year’s Autumn Budget Statement 2024 have further emphasised this concern, with significant amendments to Business Property Relief (BPR) and Agricultural Property Relief (APR) from April 2026. Moreover, pensions previously exempted from IHT will now be subject to a 40% charge from April 2027.
Understanding how SIPPs can help you maximise your retirement investments
When planning for retirement, utilising a pension is one of the most effective ways to secure your financial future. The generous tax relief offered on pension contributions makes options like SIPPs (Self-Invested Personal Pensions) particularly advantageous. Understanding how they work, if appropriate, can help you maximise your retirement investments.
Is now the time to consider protecting and managing your wealth for future generations?
A trust can be an effective solution for many individuals and families aiming to protect and manage their wealth. Trusts provide a structured method for transferring assets to beneficiaries, especially across generations, while ensuring the funds are utilised for their intended purposes. However, trusts are not universally suitable, and their complexity necessitates careful consideration and planning.
How to approach financial conversations with older family members
Discussing finances is not always easy, particularly with older family members. Nevertheless, these conversations are essential for alleviating stress and ensuring everyone’s long-term wellbeing. Whether it involves managing unexpected expenses, such as medical bills, or addressing insufficient savings, financial challenges can weigh heavily on ageing relatives. Families can work towards smoother transitions as circumstances evolve by engaging in open discussions and planning ahead.
Time is running out to fully capitalise on tax-saving opportunities
The UK tax year is a well-structured framework governing tax assessment and collection. It begins on 6 April and runs until 5 April the following year. As we approach the end of the 2024/25 tax year, maximising available opportunities is essential to make the most of your finances.
The impact of pension lump sums and their long-term implications
New research reveals a concerning trend among those approaching retirement[1]. One in five individuals (21%) who accessed a cash lump sum from their pension pot did so as soon as they reached 55, often without fully comprehending the potential long-term consequences. While some utilised the funds to meet immediate financial needs, others withdrew their savings simply because they could.
Helping you stay on track even in unpredictable circumstances
Having a sound financial plan is one of the most effective ways to align your aspirations with your financial choices. A carefully considered long-term strategy not only helps you visualise your destination but also provides clarity on how to achieve it, helping you stay on track even in unpredictable circumstances.
The optimal time to invest is shaped by your personal goals and circumstances
Investing your money can feel like navigating uncharted waters, especially when you’re unsure about market trends. A common sentiment among new investors is, ‘I think I’ll wait until the market drops.’ While this approach seems sensible – capitalising on low stock prices and selling high – it is far from foolproof. Even the most skilled fund managers in history have struggled to predict market movements consistently.
