Once you retire, you may have your home paid off and it may be the largest asset that you own. You may be able to release the equity from your property so that it can provide you an income during retirement. We will be able to advise you on the options and consequences of such schemes.
Insurance and Protection
Into retirement, whole of life insurance can be used to mitigate any Inheritance Tax Liability. Insurance for funeral expenses may be required to ensure that you do not leave a financial burden to your loved ones.
Throughout your life you have accumulated wealth. We will be able to advise you on how to keep this wealth and pass as much of it on to your family as possible. We can also advice on how to make sure that you are covered so that you will not have to sell your home to pay for nursing home fees.
Savings and Investments
Your objectives may change into retirement, the investments that you have may be more geared towards income generating funds or you may wish to re-invest.
Taking income is taxable so it is important that you do this efficiently and in a timely manner. Your attitude to risk may be more cautious and it is essential that your investments reflect this.
When you retire, you may want to reduce the risk that you take with your pension and your objectives may be more aligned with generating a steady income. It is imperative that you receive professional advice to ensure you get the most out of the pension fund that you have accumulated over the years.