pre-retirement planning and inheritance tax

It was excellent knowing that there was someone who was an expert in care and 100 reliable who I could trust to get everything sorted out in my aunts best interest

"It was excellent knowing that there was someone who was an expert in care and 100% reliable who I could trust to get everything sorted out in my aunt's best interest."

pre-retirement planning and inheritance tax

Whilst it is never too early to start planning for your retirement, it is best to contact time4care when you are within a maximum of five years of retirement. Whatever your own plans for retirement, you will need to have income to support your lifestyle. 

Increasingly more and more of us are thinking that we might need to make provision for our own care rather than leave this in the hands of our relatives or the state. That is why time4care only works with qualified advisers accredited to the Society of Late Life Advisers. Not only do they understand the complexities of financial needs in later life, but they have demonstrated expertise and integrity in helping people to make clear and informed decisions.

Review of existing investments

Many of us have money tied up in different companies and products and have difficulty keeping track of our investments. Our advisers can undertake a detailed review of your finances and explain the types of investment that may be appropriate for your circumstances, leading up to your retirement.

Pensions and lump sums

If you receive a lump sum as part of a pension pay out, there are a number of options to consider:
• Paying off or reducing a mortgage, overdraft or credit card bills
• Investing the lump sum in products such as ISAs
• Buying a purchased life annuity

Annuities

Your pension scheme may require you to buy an annuity and the decision on what type of annuity to buy can be complex, taking into account what portion of your pension fund can be taken as a lump sum. Our advisers will help you identify the type of annuity that is just right for you.

Inheritance tax planning

Many people underestimate the likely value of their estate and it is all too easy to exceed the inheritance tax thresholds, especially when the value of a property is involved.There are a number of ways your tax liability can be minimised, including:
• Gifts to relatives and friends
• Equity release schemes
• Setting up a Trust
• Insuring against inheritance tax

 

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