Understanding Powers of Attorney

(July 2014)

Understanding Powers of Attorney: A simple explanation

It is important to seek legal advice when setting up a Power of Attorney. Although we don’t advise on these, we understand the Power of Attorneyimportance of having them in place and often refer clients to qualified individuals. We are used to dealing with Attorneys especially when it comes to care-fee planning.

A Power of Attorney enables another person to make decisions on your behalf if you lack the mental capacity to do it yourself. Mental

Managing Cash

Managing Cash: Good news

(June 2014)

2008 changed many things in the financial field including the way people managed their cash holding.

Before 2008, many clients didn’t seem to pay much attention to their savings accounts. They just used whichever bank or building society was most convenient for them. Very few could answer questions about what rate of interest they were receiving and what level of their holdings would be covered by the FSCS (Financial Services Compensation Scheme).

Paying for long-term care

(May 2014)

Paying for long-term care: A deeper look

You might remember my previous article where I introduced Sally Booker. She specialises in long-term care planning along with another of our highly qualified advisers, Karen MacDonald. In this article, Sally explains a little more about the benefits of seeking their advice when a loved one needs care. Here are some of the ways they can help you:

The Budget through the eyes of an IFA

(April 2014)

The Budget through the eyes of an IFA: What the changes mean to you

What a thought-provoking Budget! I think the Budget has stunned most of my sector; we always get some predictions but I don’t believe anyone saw this coming. The Government have definitely listened to the voices of pensioners who endlessly say to us that they have been hit by the low interest rates both with savings and annuities.

In the future, being able to take your pension fund as a lump sum is an interesting idea, and the Government intend to consult on how this is best achieved prior to the target date of April 2015. Initially this will apply to defined contribution schemes (where you build up a fund) but may also apply to private company final salary schemes in the future. It is unlikely to apply to Public Sector schemes and,

Demystifying Pension Jargon

(March 2014)

Demystifying Pension Jargon: Everything you need to know

In its simplest guise, a Pension is a savings plan which has tax benefits. You pay into it, and the proceeds will help fund your retirement (whether or not you have stopped working) – which generally has to be over the age of 55. Currently, the contributions you pay in usually gain tax relief, the fund itself grows virtually tax-free, and you are allowed to take a lump sum tax-free when you take benefits.

Paying for Long Term Care

(February 2014)

Paying for Long Term Care: Advice from an expert

As you may know, some new advisers have recently joined our practice. One of these, Sally Booker, specialises in providing advice about Long Term Care. She decided to do this after her lovely father went into care a few years ago when her 78-year-old mother could no longer cope due to his dementia, and wants to help people in the same position. A as well as being a Chartered Financial Planner, she is SOLLA qualified – the benchmark for advice on care funding and for those in later life.

Tax Considerations

Tax Considerations: TIme to plan for the new year

(January 2014)

Now we are well into the New Year, the next big financial event is the end of the tax year.

TaxWhen considering investments, it’s important to remember it’s not just about performance but also about how much tax you pay or save. Often, clients we see forget that money in the bank and building society and money in a general account is usually subject to tax.

New year, fresh start

(December 2013)

New year, fresh start: Goal-setting for 2014

The teamYou might have read my previous articles suggesting that the New Year should be treated as a fresh start. I believe it’s a great way of closing the door on what’s happened in the past and opening the door to a fresh future. I’m not saying that we should forget what happened before, but once we have spent time analysing it we should then focus on looking forward.

A fresh look at trusts

(Oct 2013)

A fresh look at trusts: What you need to know

TrustsFinancial Planning isn’t just about building funds for your future, it’s also about making sure that your dependents are cared for if anything happens along the way. Setting up a trust can ensure that your money goes to the people you want to benefit from it. It can also be used for tax planning.

Introducing Trusts

You probably already have a trust agreement in your life. Surprised?

Benefits of financial planning

(Sept 2013)

Benefits of financial planning: What is it and why do you need it

Ifinancial planningf you’ve read my previous articles you’ll notice they’ve all related to areas of advice or individual products. Until now, I haven’t covered the benefits of financial planning.

What is financial planning?
To me, financial planning means making sure you have the funds to carry out your dreams and aspirations and take care of any eventualities should anything happen to you along the way. Just as