When what matters is to:
Protect yourself and your loved ones
Everyone keeps telling you you should be putting a plan in place, and you have to admit, it’s probably time. But planning to pass your wealth on to the next generation can bring up a whole new set of questions…
“Will I be ok? Will my family be ok? Can I continue at my current level of spending, or do I need to cut back? How can I make sure my children don’t have to sell the house to pay for my care, or an inheritance tax bill? How do I know who to trust?”
At Taylor Money, we’ve been looking after some of our clients, and their families, for almost thirty years.
Our advice is always completely independent, and our priority is helping you protect the things that matter most to you; whether that’s your lifestyle, your home, your loved ones or simply your peace of mind. We’ll help you balance your needs, and get a clear plan in place, so that everyone that matters knows what you want to happen, and you’re confident that everyone and everything will be taken care of.
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When Annabel lost her husband, she began to contemplate how best to pass on their accumulated wealth to her four daughters, seven wonderful grandchildren and her favourite arts charity.
She loves her life in St Ives; painting and spending long, ice-cream-filled days on the beach with her grandchildren. But with her daughters all scattered around the country, she worried about having to leave if she needed full-time care.
Annabel needed enough to live comfortably, provision for top-notch care if necessary, and to make sure that her family wouldn’t face a huge inheritance tax bill. But navigating the complicated tax rules was tricky, and because everyone seemed to have their two pennies’ worth of advice, it was difficult to know who to listen to. So, after putting it off for several years, Annabel asked us to help get her finances in order once and for all.
Some careful estate planning was in order. We recommended a mix of investment vehicles to provide flexibility should Annabel need access, and inheritance tax relief if she didn’t. We also referred Annabel to a local professional to set up Power of Attorney, so that her family would be fully prepared to act on her wishes if she wasn’t able to.
Finally putting a strategy in place has given Annabel peace of mind that whatever happens, she, and her family, will be well looked after. She now has a tax-efficient income that allows her to live extremely comfortably, and stay in her beloved fisherman’s cottage in St Ives, with plenty left over to spoil her grandchildren rotten whenever they come to stay.
*Names and some details have been changed to protect our client’s confidentiality.