Menu

These are people who have more than enough already, or are heading in that direction. Whilst on the outset, this may sound like a good problem to have, it is still a problem nonetheless.

Callum and Susan are in their early 60s and enjoying their retirement. Callum has accumulated some real wealth and has plenty of income in retirement from multiple private pensions, and dividends from their shares and ISAs, as well as both their state pensions. So, an evaluation of their assets showed that, even after considering inflation and the potential costs of long-term care, they will both never run out of money.

They have planned to pass on their wealth to their children, however if both Callum and Susan died the InheritanceTax bill would be far greater than anything their two children would get. 

To avoid this, our lifestyle financial planning enabled us to calculate how much they could spend themselves each year, and how much money they could pass onto their children over the next 10 years, without running out. As long as they gift their children at least 7 years prior to their death, this will not be included in their IHT bill. They are now well on course to eliminating their Inheritance Tax liability, while gradually passing their wealth on to their children.  

If you think you could benefit from the financial lifestyle planning we carry out to help our clients prepare for their future...

... then please do get in touch with DAM for an initial no obligation/ cost meeting. We look forward to hearing from you.