This article looks at preserving your legacy and how to keep your wealth in the family. Are you worried about leaving an inheritance to your loved ones and then having them pay tax on your legacy? No one likes to think about a time when they won’t be here, but unfortunately the reality is that…
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Without stating the obvious, we live in unprecedented and uncertain times, but there is perhaps no better time to take stock of our financial situation. It’s vital to ensure you are getting the best possible service from your current adviser so that you are getting the best possible returns on your finances. If you’re unsure,…
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It’s important to be aware of coronavirus scammers. Scammers are sophisticated and opportunistic and therefor they will try to take advantage of people, especially the vulnerable during the coronavirus. It’s important to remain vigilant to scams and be aware what to look out for as well. Things to look for include: Loan Fee Fraud –…
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This article looks at the importance of portfolio diversification and why you shouldn’t put all your eggs in one basket. Portfolio diversification is the foundational concept of investing. It’s a risk management strategy of combining a variety of assets to reduce the overall risk of an investment portfolio. Traditional wisdom says: don’t put all your…
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Is it time to give your pension pot a boost? Planning for retirement can be both exciting and daunting. It’s essential to structure your affairs to make sure you have enough money when you eventually retire. To give your pension pot a boost, one option to consider if your pension savings are more than your…
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Here we look at the top 4 tips for good tax planning and what you should consider before the end of this tax year. The end of the 2019/20 tax year is fast approaching, and there are a number of valuable allowances and reliefs that will be lost if they are not used before the…
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It is becoming increasingly essential that we take necessary steps to ensure everyone stays healthy and free from the coronavirus, which means moving to home working where possible. Truly Independent advisers are well placed to work from home and most have been working this way for many years, which puts them in a strong position…
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Welcome to the latest edition of our TIPS Financial Magazine for March and April 2020. At the time of writing this issue, Sajid Javid had resigned as Chancellor of the Exchequer with less than a month to go until Budget Day. His replacement, Rishi Sunak, will deliver the budget on 11 March 2020. In our…
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We spend a lifetime generating wealth and assets but not many of us ensure that it will be passed to the next generation – our children, grandchildren, nieces, nephews, and so on. Intergenerational wealth transfer is the passage of wealth from one family generation to the next. It’s becoming increasingly important for more people to…
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Pension consolidation is considered one way of simplifying and maximising retirement benefits. The employment landscape has evolved significantly over the last few decades, and changing jobs multiple times before retirement is now very much the norm. As a result, many people have multiple pensions set up, as they have been automatically enrolled into a new…
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If appropriate, you can transfer some of your assets while you’re alive – these are known as ‘lifetime transfers’. While we are all free to do this whenever we want, it is important to be aware of the potential implications of such gifts with regard to Inheritance Tax. The main types are ‘potentially exempt transfers’…
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If you want to be sure your wishes are met after you die, then it’s important to have a Will. A Will is the only way to make sure your money and possessions that form your estate go to the people and causes you care about. Unmarried partners, including same-sex couples who don’t have a…
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