Will Writer

In Retirement

In Retirement

Photographs by Martin Neeves Photographywww.martinneeves.com

If you havent read about the6 basic problems we all face it will be a good introduction before reading this page, and doing so will refresh your memory before reading on.

Getting to retirement means you still may have another 20 years (or more of good living) so if you havent addressed the risks you face, now would actually be a very good time!

The best thing you can do for your children and other beneficiaries is to preserve and protect your hard-earned money for them, afterall it is ‘family money’. If you dont there is a very good chance they will inherit less. Putting the majority of your estate into a Lifetime Discretionary Trust (also known as The Family Protection Trust)means that it will not be subject to any Probate costs in the future and this will save ‘the estate’ a lot of money overall (e.g. a typical 3% probate fee on a 250,000 estate would be 7,500) so it actually more than pays for itself – does that make sense?

Remain in control with your own Family Trust

  • You remain in control of your assets and continue benefiting from them as normal
  • You keep the Capital Gains Tax exemption on your house
  • It is highly likely that you will pay no more in tax than you currently do
  • You are able to nominate someone in the family to represent your interests and set out clear instructions for them regarding how your assets should be handled
  • You will also have the freedom to let your family benefit from the Trust while you are still alive so that you can see and share in their pleasure
  • A Family Trust would also benefit your family by helping them to avoid the huge expense associated with the distribution of your estate (probate costs)
  • Your loved ones wont have to deal with complicated probate procedures and Inland Revenue forms, making the distribution of your estate quick and easy
  • When the Trust is ended (and it can last for up to 125 years) your assets will simply be distributed according to the terms of your Will, providing your family circumstances are alright and they aren’t going through divorce or bankruptcy for example…
  • If your kids are likely to have their own Inheritance Tax issues (either now or later in life) this trust will help them to pay less – now ask us how this works!
  • This estate planning option allows you to give most of it away early but still keep control of it – this is tantamount to having your cake, and eating it!

The question is, how much of your estate are you prepared to lose before you leave the living behind? It is a significant risk these days and you can do something about it, so why wouldn’t you?

Financial planning
Wills & Estate planning
Surviving Retirement
Getting the best out of your pension
Maximise returns, minimise your tax
Equity release
Enjoy gifting to family members
Leaving things in order
Protection of your estate for future generations
All the benefits of the Family Trust
Prepaid funeral plans

Care Home Fees


What can you do about it?

Let us talk you through the options. This is a complex issue so we will need to assess your personal situation very carefully to make sure you get the right advice.

Contact us now to arrange an initial discussion.


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