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When should you start planning for later life?

Now!

At I’m Worried About Mum, we are always asked when it is the best time to start planning for later life. Whether that is retirement planning or planning for your estate when you are in later life, it is important to consider a number of factors. They may include;

●           How to make tax-efficient cash gifts to loved ones 

●           Your exposure to Inheritance Tax

●           Arranging a pre-set income for life to help safeguard against the future 

●           Keeping control of your money

●           The benefits of using Gifts and Trusts

Planning now, will make sure all of the ‘difficult’ conversations are had when you and your loved ones are in the best place to discuss it openly, and without as much stress and emotion as there may be when left later and loved ones could possibly be unwell or without the proper capacity.

There are lots of different types of people who can support you in finding the best way to plan for the future, for yourself and your loved ones, we, however can trust and recommend Kavanagh and Associates, who you can find on our care directory, to support you in planning your finances for later in life. Please feel free to click here to take a look at their listing and get in touch.

The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax relief depends on an individuals circumstances.

Trusts are not regulated by the Financial Conduct Authority.

Kavanagh & Associates Wealth Management is an Appointed Representative of and represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group’s wealth management products and services, more details of which are set out on the Group’s website www.sjp.co.uk/products.

SJP Approved 03/07/2024

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