At some point in your life you have probably thought “will I have enough money to last all of my retirement?” or “will I have enough to cover cost of care when I need it?”.

It’s a seriously important subject. Although it tends to receive little attention.

To help with this crucial part of personal finance, we have a well-regulated solution that gives you, or your loved ones, peace of mind. Together, we can plan to mitigate Inheritance Tax whilst ensuring there is enough income to cover any long-term care costs.

Here are some steps you can take as part of your later life planning:

• Optimise gift allowances to other members of the family (excluding a spouse)
• Assess how much of your estate is liable for inheritance tax – there are ways to reduce this whilst covering later life costs
• Decide how much income you might need to sustain your later years of retirement
• Make the most of gifts and trusts – through careful planning, you can keep sight of your money whilst growing any intended inheritance for your family in a tax-efficient way

Do you or a family member need advice on how to plan for later life and long-term care? You can make an enquiry via our website for a no obligation consultation.

The value of an investment may fall as well as rise. You may get back less than the amount initially invested. 

Trusts are not regulated by the Financial Conduct Authority. 

The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances.