Distributing financial wealth or possessions in an orderly fashion
A valid Will is an incredibly important part of estate preservation planning and will ensure that should the worst happen, your assets, whether they be financial wealth or possessions, are distributed in an orderly fashion to the right beneficiaries.
A very tax-efficient solution for passing on your wealth
Passing wealth through the family, for most, is an important part of their estate preservation planning process. Pension funds are typically free of Inheritance Tax provided the scheme trustees/administrator has discretion over the payment of death benefits
Remember the seven-year rule
An outright gift falls into one of two categories, depending on the type of gift and to whom it’s made. These categories are Potentially Exempt Transfers (PETs) and Chargeable Lifetime Transfers (CLTs).
Clear, concise, detailed and written down
Goals-based investing is an approach that aims to help people meet their personal and lifestyle goals, whatever they may be. If you do not know where you are going, how will you know when you get there? This is very true about financial goals.
You need to set financial goals to help you make wise financial decisions, and also as a reward for your efforts. Goals should be clear, concise, detailed and written down. Unwritten goals are just wishes.