Making a gift to your family and friends while you are alive can be a good way to reduce the value of your estate for Inheritance Tax purposes, ensuring those closest to you benefit from a lifetime of your hard work. Estate and tax planning is a complex area and professional financial advice can help
It is a sombre thought to think about what happens to your family once you are gone, or what happens should your spouse pass away prematurely. However, with increasing life expectancy, many more are shunning widowhood and are instead searching for a new partner with which to enjoy a later-life romance. Marriage rates for over-65s
“I’ll do them when I am older.” If I had a pound for every time that I had heard that phrase when asking about Wills, then I would be significantly more wealthy. Unfortunately, as we all know, there are only 2 certainties in life – and suddenly taxes seem the more appealing. As the pandemic
At Foresight, we like to think that we are experts in what we do – financial planning. However, one of the most important things to know as a professional is not only where your expertise starts but, even more importantly, where it ends. This is why we have a network of trusted professional connections in
Lasting Powers of Attorney (LPAs) allow you to appoint an individual to act as your legal representative in the event of declining mental health or injury. Whilst LPAs are vitally important documents and critical to your financial planning, it is estimated that less than 1% of the British public have one. In contrast, 40% of
Finances play a critical role in life throughout. Many decisions are dictated by the state of our finances, so having good financial planning is one of the most effective tools in achieving the life that you truly want. As we go through life our lifestyles and priorities shift and so do our financial planning requirements.
Writing a Will is the only way to ensure your wishes are carried out as you intend on death. Without this your estate will be subject to the intestacy rules, meaning you have no control over its’ administration, creating heartache and uncertainty for those you have left behind. So why should you get a Will?
Inheritances can provide a real springboard for future generations. They can give much-needed capital to buy property, start businesses, or just assist in improving day to day living. However, it requires specific strategies to be in place to maximise and maintain these funds through the generations. This article looks at the way parents can ensure
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