Helping You Pass Your Legacy to Those You Love
Securing futures, building legacies
Rather than leaving each generation to navigate economic challenges independently, an increasing number of us aspire to provide mutual support across generations. So, why wait until the Will is read to facilitate the transfer of wealth from one generation to the next?
With expert guidance from Burt Financial Planning, transferring wealth within your family becomes a positive and gratifying way to impact the lives of your loved ones. Whether assisting your children in acquiring their first home, ensuring your grandchildren receive an excellent education, or aiding your parents in later-life planning, intergenerational wealth management empowers families to use their collective wealth holistically, fostering financial well-being for all.
Inheritance Tax (IHT)
We all aspire to pass on our hard-earned money to those we hold dear. However, the prospect of surrendering a substantial portion of it to Inheritance Tax rather than to your intended beneficiaries can be disconcerting. This is where meticulous Trust and estate planning plays a crucial role.
In life, they say death and taxes are certainties, and it’s equally true that the unforeseen events life presents are unpredictable. Your chosen beneficiaries may face unexpected circumstances, such as relationship breakdowns or bankruptcy, making it more challenging for them to handle the funds you intend to entrust to them.
Gone are the days when Inheritance Tax (IHT) was a concern only for the relatively well-off. Planning ahead is crucial to ensure that more of your money ends up with the people you care about. Thankfully, various strategies exist to shield and future-proof your family’s assets, and at Burt Financial Planning, we’re delighted to guide you through the available options.
The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief is dependent on individual circumstances.
Trusts are not regulated buy the Financial Conduct Authority.
Assisting Loved Ones onto the Property Ladder
While purchasing a first home is a milestone, it’s increasingly challenging for the younger generation to gather the necessary funds. Nowadays, many parents and grandparents are stepping in to support their children in this endeavour.
However, it’s crucial to strike a balance, especially if you’re nearing retirement or have already retired, to ensure you maintain financial security. We can guide you through various options such as gifting, loans, and providing guarantors to mortgage providers on behalf of loved ones. It’s essential to avoid inadvertently increasing your tax liabilities – another clear reason to discuss your plans with your wealth manager first.
The property on which a mortgage is secured may be repossessed if payments are not maintained.
The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief is dependent on individual circumstances.
Investing in a Better Future for Your Children
It’s never too early to set aside funds for your children’s future.
Regular investments can fund their education, travel, or contribute to their first house deposit by the time they reach 18. The longer the money is invested, the greater its potential growth through compound interest. We can help you utilise gifting allowances for these investments and provide transfer-of-wealth benefits without incurring Capital Gains or Income Tax liabilities.
The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.
The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief is dependent on individual circumstances.
Secure Your Financial Future, with Burt Financial Planning
Begin your journey towards financial freedom with Burt Financial Planning. Our dedicated team offers personalised guidance tailored to your unique goals. Take the next step and contact us below to secure a more prosperous future today. We are committed to your financial well-being and are here to help you succeed.
