Making sure the gift is not a gift for Inheritance Tax purposes A gift with reservation is a gift which is not fully given away. Where gifts with reservation were made on or after 18 March 1986, you can include the assets as part of your estate but there is no 7 year limit as… Continue reading A gift with reservation
Category: Financial News
Protecting your wealth
Making the most of different solutions Decreasing term assurance Decreasing term assurance can be arranged to cover a potential Inheritance Tax liability and used as a Gift Inter Vivos policy. This is a type of decreasing term plan that actually reduces at the same rate as the chargeable Inheritance Tax on an estate as a… Continue reading Protecting your wealth
Valuing a deceased person’s estate
To arrive at the amount payable when valuing a deceased person’s estate, you need to include assets (property, possessions and money) they owned at their death and certain assets they gave away during the seven years before they died. The valuation must accurately reflect what those assets would reasonably receive in the open market at… Continue reading Valuing a deceased person’s estate
Mind the pension gap!
Are you too optimistic about the age at which you’ll be able to retire? Just a third of people accept that they will have to work beyond 65, even though the state pension age is set to rise. British workers remain overly optimistic about the age at which they will be able to retire, with… Continue reading Mind the pension gap!
Term assurance
You can’t rely on always being there for those who depend on you It’s essential to have the right sort of life assurance in place. You can’t rely on always being there for those who depend on you. There are various ways of providing for your family in the event of your premature death, but… Continue reading Term assurance
Long-term care funding
Keeping pace with the growing size of an ageing population The funding of long-term care remains one of the biggest public policy challenges facing the government. As the baby-boomer generation grows older, it is estimated that spending on social care needs to double in real terms over the next twenty years just to keep pace… Continue reading Long-term care funding
Whole-of-life assurance
Providing financial protection with cover that lasts for the rest of your life Whole-of-life assurance policies provide financial security for people who depend on you financially. As the name suggests, whole-of-life assurance helps you protect your loved ones financially with cover that lasts for the rest of your life. This means the insurance company will… Continue reading Whole-of-life assurance
Business protection
Don’t overlook your most important assets, the people who drive your business Every business has key people who are driving it forward. Many businesses recognise the need to insure their company property, equipment and fixed assets. However, they continually overlook their most important assets, the people who drive the business – a key employee, director… Continue reading Business protection
Glossary
A guide to the jargon of protection Assured A person or persons who are insured under the terms of a protection policy. Convertible Term Assurance A term assurance plan that gives the owner the option to convert the policy to a whole-of-life contract or endowment, without the need for medical checks. Critical Illness Cover Critical Illness Cover is an insurance plan… Continue reading Glossary
Life assurance
When you should review your life assurance requirements Life assurance helps your dependants to cope financially in the event of your premature death. When you take out life assurance you set the amount you want the policy to pay out should you die, this is called the ‘sum assured.’ Even if you consider that currently… Continue reading Life assurance
