14 March 2019

Top Tips — Traditionalists

The ‘Silent Generation’

by Anna Murdock

Head of Wealth Planning


To maximise her legacy and benefit her children she should consider mitigating her inheritance tax liability, possibly by utilising gift allowances. It can make sense to maximise all the tax free investing options such as investing in JISAs on behalf of her grandchildren


To ensure she has enough cover for the care home fees, should she need it, it’s worth assessing all her financial affairs to check they are in order and to fund the care costs from the optimal source


Ensuring a will and power of attorney are in place can help her beneficiaries, as will talking to them about her plans


To ensure that the trusts will still meet their original objectives, trust deeds should be reviewed by a legal professional. Replacement or additional trustees may need to be added to mirror the executors and/or attorneys appointed

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