Financial Planning

Estate Planning & Inheritance Tax Planning

Making provisions for your estates is something that few people wish to consider.

However it is essential to make plans for your estate as the cost to your beneficiaries can be extremely high with Inheritance Tax at 40% of any estate above the threshold. Whilst the threshold has risen to accommodate the increase in residential property values, and will continue to rise to £500,000 per person by April 2020, this does include residential property. Additionally the allowance is removed if the total estate is worth £2 million plus.

Steps therefore need to be taken in order to avoid being penalised by Inheritance tax. These include:-

- Making a will
- Assessing your estate value as to what will be caught by inheritance tax.
- Consider use of life insurance cover to mitigate inheritance tax.
- Consider use of life time gifts
- Consider use of trusts
- Assessing business assets

Please contact Davidson Stant for your free Estate Planning check.

Retirement Planning

The retirement age has increased for most people over the last few years. With careful forward planning you can still retire at an early age and enjoy the fruits of your labour.
There are a number of areas which you will need to consider.
Exit Strategies
Business owners need to consider how they will exit their business. Do you have a successor be it a family member or an internal manager? If not, do you intend to sell the business? If you intend to sell how will you achieve the maximum value?  Do you understand the tax implications of a sale?
Many people have set up inadequate pension plans. Do you know if your’s is adequate to meet your retirement aspirations? Do you follow the performance of your pension? Could you make better use of your allowances or combine various pension pots?
Savings and Investments
What returns are you obtaining from your investments? Have you a balance of risk and reward from your investments which you are comfortable with? Are you maximising your ISA allowance?
Life Assurance and Long Term Care
Do you have cover in place which is adequate for you and your family’s needs? Certain plans can be put in place which have tax relief.
Please contact Davidson Stant and we can provide a free Financial Planning Health check.

Contact Us

The Glen, Knutsford Old Road
Warrington WA4 2LD

01925 602 027





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