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IHT Planning with Retirement Planning

These two subjects are inextricably linked in that a decent retirement plan can enhance an IHT plan. While no IHT will be paid, if the pension holder is over 75 at the time of death the beneficiaries will be liable to income tax on pension benefits drawn. I.e. if no benefits are drawn, no income tax is paid.
 

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How it works

01.

IHT planning is the allocation of money that you don’t spend during your retirement. The two will always work hand in hand and in recognising this you can only improve your position.

For example, any money that is held in a pension at the time of your death can sidestep your estate and get passed to your beneficiaries without IHT.

02.

So, if you happen to have an extra £100,000 of your estate in a pension due to proactive planning, you could save up to £40,000 of IHT.

Of course, due to the pension freedoms act that £100,000 is still accessible, but unless you need it, outside of your estate. For this reason, the earlier you look at IHT planning the better.

03.

Please don’t misunderstand, we’re not saying everybody must act now. In many cases waiting until you are older is the right decision.

However, there are clients that benefit from making early moves with their money. Moves that don’t really affect their lives, but that save IHT.

IHT Planning is best dealt with holistically, taking into account all of your finances and goals

We have many years of experience in advising clients across the country who wish to protect their estate, and we provide a tailored service for each individual. Our company is well qualified to answer questions and enable you to organise your assets.

Based in Devon

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They gave me their time to help choose the best options for me going forward and to help plan for down the line. I know I'm in good hands.

Based in Cumbria

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Ripley Wales Financial Planning have looked after our finances now for over ten years and we feel more than qualified, on that basis, to unreservedly recommend their services.

Based in Cambridgeshire

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They have managed my pension and income drawdown, keeping in touch regularly about decisions to be made, and making useful strategic suggestions.

Based in East Sussex

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They did a great assessment on risk and a gained a detailed understanding of my goals and set a course accordingly.

Based in Cornwall

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They showed me what was possible, what I needed to do to achieve this and a likely outcome. But also pointed out the possible high's and the low's.

Based in Devon

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They were very knowledgeable and professional without any awkwardness, I immediately felt relaxed and confident that they could assist me.

Based in Hertfordshire

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Ripley Wales Financial Planning advised me on the best ways to protect my pension fund and how to plan for my desired future.

Based in Buckinghamshire

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They keep a keen interest in the performance of the investments within the pension and advise me when they think we should change anything.

Based in Cornwall

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By looking at our personal situation and finances they started investing for us, by assessing our comfort levels for 'risk' and tailoring our investments.

If you have any questions or queries call us on: 0800 093 4115

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