admin – Page 61 – JMS Financial Services

Future wealth

Ready to start investing for your grandchild’s future?

Investing in the future of your grandchildren is a great way to help them prepare for their financial needs in life. By setting aside money now, you can provide them with added security and increased opportunities in the years to come. Investing for grandchildren can be used to help fund college tuition, make a down payment on their first car or home, or even start a retirement fund.

Continue reading “Future wealth”

Drawdown, annuities or both?

Make sure your retirement strategy meets your needs and goals

It’s important to make a well-informed decision when it comes to deciding what to do with your pension pot: drawdown, annuity or a combination of both. Making the right choice will affect your retirement for many years.

Continue reading “Drawdown, annuities or both?”

Retirement planning

Your wealth. Your legacy

It goes without saying that there’s no time like the present to kick-start your retirement planning. The earlier you start, the better. You’ll then be able to set about realistic goal setting and, importantly, diversification of your investments. Working hard to save for your retirement is an important endeavour.

Continue reading “Retirement planning”

Future generations

Passing on money securely, and efficiently, to those you love and the causes you cherish

Preserving wealth for future generations is an important part of a comprehensive financial plan. Planning is one key element in achieving this goal. Passing on wealth you have worked hard to build is often complicated. But with careful planning, we can help you pass on money securely, and efficiently, to those you love and the causes you cherish.

Continue reading “Future generations”

Getting your affairs in order

Where do you want your wealth to go?

Getting your affairs in order for when you pass away can bring real peace of mind as you get older. Failing to protect family wealth from Inheritance Tax could cost families thousands of pounds but there are various strategies and solutions to legally avoid or mitigate paying this tax.

Continue reading “Getting your affairs in order”

Intergenerational wealth transfer plans

Transferring of wealth from one family generation to the next

With careful planning it is possible to significantly reduce the need for your estate to pay Inheritance Tax. We spend a lifetime generating wealth and assets but not many of us ensure that it will be passed to the next generation – our children, grandchildren, nieces, nephews, and so on. Estate preservation planning is the transferring of wealth from one family generation to the next.

Continue reading “Intergenerational wealth transfer plans”

Inheritance Tax Residence Nil-Rate Band

Owning a residence which you leave to direct descendants

The introduction of the ‘residence nil-rate band’ (RNRB) has made it easier for some individuals to pass on the family home. The rise in property prices throughout the UK means that even those with modest assets may exceed the £325,000 ‘nil-rate band’ (NRB) for Inheritance Tax.

Continue reading “Inheritance Tax Residence Nil-Rate Band”

Lifetime transfers

Take advantage of the seven-year rule

If not exempt, an outright gift falls into one of two categories, depending the type of gift and to whom it’s made. These categories are Potentially Exempt Transfers (PETs) and Chargeable Lifetime Transfers (CLTs).

Continue reading “Lifetime transfers”

Power of pensions

Tax-efficient solution for passing on your wealth

Passing wealth through the family, for most, is an important part of their estate preservation planning process. Pension funds are typically free of Inheritance Tax provided the scheme trustees/administrator has discretion over the payment of death benefits.

Continue reading “Power of pensions”

Making a Will

Avoid legal wrangles and confusion over who will benefit from your estate

A valid Will is an incredibly important part of estate preservation planning and will ensure that, should the worst happen, your assets, whether they be financial wealth or possessions, are distributed in an orderly fashion to the right beneficiaries.

Continue reading “Making a Will”