Can I give away my assets to avoid having to pay care fees?

This is a question I am fairly regularly asked and in short the answer is ‘no’. I have found that people can be very frustrated when they realise they will have to self fund their care costs if they have over a certain level of assets. In response to this, the first thought moves to […]

What is a Deferred Payment Agreement?

Funding for long term care can be a very complex subject, there are many ways these fees can be met and deciding the right option can be hard. Within this blog I look at the Deferred Payment Agreement (DPA), which in summary, is a type of Equity Release scheme that can be offered by the […]

The Importance of an Ongoing Financial Advice Service

Building a financial plan is not simply a case of deciding what is needed and implementing it, yes this is an important first step but what’s the point of having a plan if it is not reviewed? As we have seen over the past year or so a lot can happen in a short space […]

Are you worried about risk?

When looking to advise a client on where to invest their money a very important consideration is their ability to deal with a fall in value. Over the last year, particularly in March 2020, a number of clients experienced a short dramatic fall in value. Whilst, generally speaking, funds have recovered it can be a […]

Lifetime Allowance Planning

In summary the Lifetime Allowance (LTA) is the maximum amount that can be accumulated in all pension plans without incurring a tax charge. On certain events the pension funds are ‘tested’ and once the LTA has been used up there is a tax charge on the excess at 25% or 55%. In total there are […]

Features and Operation of the NHS Funded Nursing Care Contribution

When looking at care fee planning it can be overwhelming with the various different types of care available and who has to pay for it. There are in essence two main types, these being care funded by the NHS and Social Care. There are two types of care funded by the NHS, these are NHS […]

Why is investment attitude to risk so important?

Attitude to risk

When looking to invest there are many considerations that need to be taken in to account. These include, when will the money need to be accessed, will it be needed within the next few years or is it likely to remain invested over the longer term? What is the tax position of the client both […]

Acting as a Power of Attorney

Acting as a Power of Attorney can be a stressful experience for many reasons, these can include that you are acting for a loved one and have maybe seen their health decline and also that running someone else’s finances can be confusing. In my role at Wingate I deal with a number of ‘attorneys’ and […]

How much do I need in retirement?

This is a question I frequently get asked, with the follow up question being how much do I need to save to achieve this? The further you are from retirement the harder the answer to this question as there are so many variables that can impact what you need. What is your likely expenditure going […]

Leaving a legacy from your pension

Did you know that pensions can be a fantastic inheritance tax planning tool? Due to changes in legislation your beneficiaries are able to ‘inherit your pension’ rather than receive a lump sum. This means your pension remains outside of your estate for inheritance tax purposes, your beneficiary is then able to pass on any residual […]