Protecting your estate

Everyone thinks about saving, investing and buying a house, but protecting your estate is rarely on the agenda. It should be considered as we plan what will happen to our wealth.   Continue reading

Consolidating investments for peace of mind

With multiple investments causing an administrative headache, and some of them held in higher risk products, a Cheshire client needed advice on his investments, and to simplify matters. The goal was peace of mind.  Continue reading

Estate planning to help your family

You don’t need a castle, acres of land and a fleet of luxury cars to consider estate planning. It applies to us all. It’s a process that you should begin if you want your wealth and possessions passed to relatives with minimal cost and fuss when you die.  Continue reading

Do I have enough life cover ?

Do I have enough life cover ?  How well are you and your loved ones protected ? Many people take out a life policy, perhaps when they take out a mortgage, put it away in a drawer and don’t think any more about it. This can be a mistake, as the level of cover you took […]  Continue reading

IHT Planning alongside Grandchildren

IHT Planning alongside grandchildren – An exciting time for children but not so much for their parents if they have not made financial provision to plan for this expense. And expensive it is! Not only the major items like tuition fees and accommodation but what about the cost of living – rent, bills, food, books, […]  Continue reading

Not married to your partner ?

Not married to your partner ? Why it may make financial sense to get hitched!  What you NEED to know about money if you’re not married to your partner Increasing numbers of couples are choosing to live together as if they are married, without ever actually tying the knot. Millions buy homes together, have children together, […]  Continue reading

Independent Financial Advice – How can we help you

Independent Financial Advice – How can we help you ? If you haven’t used the services of an Independent Financial Adviser (IFA) before, here are some more details of who we are, what we do and the kind of help we can give you.  Based in Heywood, Greater Manchester, Logic Wealth Planning was set up […]  Continue reading

5 top financial tips for new parents

5 top financial tips for new parents When your bundle of joy arrives financial matters might not be at the top of your list of priorities, but with a new or expanding family, it’s best to get your finances in order. Here are five tips for new parents. 1) Protection– It’s never nice to think […]  Continue reading

Looking after the grandchildren – IHT Planning

Looking after the grandchildren – Inheritance Tax Planning Pension flexibility has made pension contributions much more attractive as a means of funding an individual’s own retirement as there is 100% access but also because of the death benefit options. Cascading your wealth through the generations via your pension can be a great way to look […]  Continue reading

Attorneys and court appointed deputies

Guidance for attorneys and court appointed deputies On 18 May 2016, the Office of the Public Guardian (OPG) published advice for attorneys and court appointed deputies when making gifts on behalf of another person. In broad terms, the rules on making gifts are designed to protect the person’s best interests and ensure that attorneys and […]  Continue reading

Your Will – Are you leaving it to chance?

What links comedian Rik Mayall, actor Roger Lloyd-Pack (‘Trigger’ in TV’s Only Fools and Horses) and artist Pablo Picasso? They all died without leaving a Will. Rik Mayall left £1.2m, and Roger Lloyd-Pack left £1.4m. Neither wrote a Will, meaning that instead of passing to their wives tax free, their estates had to be administered […]  Continue reading

How to reduce IHT liabilities

Gifting: How to reduce IHT liabilities Moving £10,000 out an individual’s estate could save their heirs £4,000 in tax. One of the easiest ways to reduce a future inheritance tax (IHT) liability is for individuals to give wealth away during their lifetime. Gifting can be an effective way of saving individuals’ heirs a significant IHT […]  Continue reading

Why Will and Power of Attorney Matter

Will and Power of Attorney In 2014, approximately 60% of people who died in the UK did not write a will – meaning that they had no control over how their assets were distributed. Many people mistakenly believe that their relatives can distribute their assets as they think fit. However, without a will in place, […]  Continue reading

New pension death options

New pension death options Less tax and more choice! The new pension benefits rules will have individuals giving more thought on how they can provide a legacy from their remaining pension pot. The changes from 6 April will see pension pots become far more inheritable than ever before. But prompt action may be needed to ensure […]  Continue reading

Pension death benefits

Pension death benefits Individuals hoping to leave a flexible legacy to family members from their pension need to check that they have everything in place to make that happen. Trying to achieve this after they have died may be impossible if stuck in a pension scheme which doesn’t offer the new freedoms, or with an […]  Continue reading

Update on the Rules of Intestacy

Update on the Rules of Intestacy Inheritance and Trustees’ Powers Act 2014 simplifies the rules of intestacy in England and Wales whilst also updating some restrictive trustee powers. Where a person dies without making a Will In this situation the distribution of their estate will become subject to the statutory rules of intestacy which can […]  Continue reading

Do not die Intestate

Do not die intestate Having no will means that your assets, money and possessions may not end up where you intended when you die. New rules on what happens when someone dies without making a will came into force on 1 October 2014. How are the rules changing? The changes affect the intestacy rules, which […]  Continue reading

Normal expenditure out of income exemption

Normal expenditure out of income exemption Section 21 of the Inheritance Tax Act 1984 deals with the normal expenditure out of income exemption. If a gift (or, more precisely, a ‘disposition’) is exempt, then for IHT purposes it is irrelevant whether or not the donor survives for seven years. For the exemption to apply, it […]  Continue reading

Finance Bill limits multiple trust planning

Finance Bill limits multiple trust planning The Finance Bill confirms that proposals to introduce a ‘settlement nil rate band’ will not go ahead. This is good news for mainstream estate planning advice using trusts with life assurance contracts and pensions. Such trusts should not now become saddled with the burden of tax compliance and reporting. […]  Continue reading

ISA inheritability makes allowance for spouse

ISA inheritability makes allowance for spouse Details have begun to emerge on how the new inheritable ISA rules will operate. And the good news is that it will be achieved by an increased ISA allowance for the surviving spouse rather than the actual ISA assets themselves. This means there is no reason to revisit one’s […]  Continue reading