Later Life Finance
What is later life finance?
Later life finance covers all financial issues surrounding your later post retirement years and may include the following specialist topics
Income strategies
Whilst many pensions increase over the years, many pensioners do notice that the cost of living is increasing at a much greater rate. This leads to pressure on incomes, particularly when combined with the low returns paid from deposits. Our advice in this field will include cash flow planning and the development of strategies to diversify assets and to maximise the tax efficiency of income streams.
Equity release
Releasing the equity locked up in your home is one way to provide additional income or capital to help cover your needs. This is a highly complex subject that demands very careful consideration before any action is taken and we will look at all alternative options available prior to making any recommendations on this. An equity release arrangement is usually a route of last resort.
Long term care funding
If you own assets of value, it is likely that you will be required to fund the cost of care from your own resources. We understand the issues surrounding care and are able to advise you on how best to plan your affairs in advance of the need. Also, at the point of needing care, we are able to develop strategies to make your monies last as long as possible.
Inheritance tax planning
We can help you to understand this tax and the provision of advice on how best to protect assets and ensure that they are passed on to the next generation in a tax efficient manner.