OTHER FINANCIAL ISSUES

In today’s world, the financial issues which affect us all have become increasingly complex and wide ranging. Investments, taxation, risk management and income planning are all key factors and in recent years a new range of issues have emerged.

Retirement Planning

As the State’s role in retirement continues to decline, the combination of occupational pension scheme closures, the problems facing scheme providers and short term stockmarket volatility, mean that the importance of taking charge of our own retirement has never been greater.

Reviewing our current arrangements, understanding the options for transferring our pension away from insurance companies, the benefits of self investment and the facility to drawdown benefits rather than commit to annuity are all factors which now need to be taken into consideration.

Effective planning at an early stage can significantly combat these problems and can help to maximise benefits in retirements.

With Profits

With Profits have been a traditional solution to the dilemma of risk and reward, offering investors smoothed out returns from a basket of investments, without the risk of capital loss. However in the face of sustained market weakness and imprudent bonus declarations, investors are now facing significant penalties to get their money back. Understanding the options, the structure of these funds, the strength of the company and the alternative options are all vital to protecting the capital we have in the With Profits sector.

Succession Planning

With the relentless rise in property values, more and more people are becoming liable to IHT and often, the inheritance of our parent’s estate can simply compound this issue. Understanding the use of simple trusts, the facility to skip generations, the option to vary wills after death and a range of other facilities can all assist in helping to retain our hard earned wealth within the family.

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