SHEPPARD DAVIES ASSET MANAGEMENT

 

SHEPPARD DAVIES FINANCIAL PLANNING

i. Pensions and Retirement Planning

Recent legislation has sought to simplify the rules governing pensions in the UK but some of the rules may still be considered complex.

Greater longevity and an insufficient State Pension have resulted in an increase in responsibility for private provision in retirement. We are able to conduct a comprehensive analysis of pension schemes and advise on existing investment strategies and the suitability of contracts.

We are welcoming more clients to the company who require specialist retirement planning advice in terms of investment management and guidance on the structure and tax efficiency of benefits.

The company provides a pension consultancy service which has proved essential to many clients, particularly with reference to the introduction of the 'Pension Freedom' rules on 06/04/2015. The taxation considerations relating to the reductions in the Lifetime Allowance and Annual Allowance need careful consideration if applicable.

ii. Inheritance Tax Planning

Despite the Government reducing the options available to reduce an Inheritance Tax (IHT) liability, a number of measures still exist to ensure a greater proportion of an estate is passed to the preferred beneficiaries.

IHT planning can be complex and may involve a number of complementary strategies such as lifetime gifts, gifting assets into appropriate trusts and specialist investment portfolios. Alternatively, it is possible to retain full access to assets and insure an IHT liability.

We offer a bespoke IHT planning service tailored to clients' specific circumstances.

iii. Wills and the Rules of Intestacy

Writing a Will is typically inexpensive and allows the opportunity to pass wealth to intended beneficiaries. Individuals who are resident in England and Wales and die without having made a legally valid Will or if a Will partially fails are known as dying 'intestate' and the estate becomes subject to the Rules of Intestacy.

The Rules of Intestacy determine how an estate is to be distributed after the payment of all debts and liabilities, testamentary expenses and funeral costs.