COVID-19 concerns affecting access to medical treatments
Nearly 7 million adults are concerned about access to medical treatment, with lockdowns affecting access to medical treatments. 6.8 million adults (13%) are worried that they won’t be able to get medical treatment if they need it, with people aged over 55 particularly concerned.
Who is responsible for looking after us if we need care in old age?
As we get older, many of us will need help looking after ourselves. With the United Kingdoms population ageing, more people will be living with long-term care needs.
Making arrangements for your closest loved ones
The coronavirus (COVID-19) outbreak has prompted many people to get their affairs in order by updating their Will. Increasingly COVID-19 has been on the minds of UK residents since the outbreak caused a nationwide lockdown last March, and the severity of the outbreak has led many to finally get around to creating or updating an out-of-date Will.
Peace of mind that there is someone you trust to look after your affairs
A Lasting Power of Attorney (LPA) is a legal document that allows you to appoint one or more people to make decisions on your behalf during your lifetime. The people you appoint to manage your affairs are called the Attorneys. A LPA is a completely separate legal document to your Will although many people put them in place at the same time as getting their will written, as part of wanting to plan for the future.
Passing assets efficiently to the next generation
There are many things to consider when looking to protect your family’s lifestyle and your home. Protecting your estate is ultimately about securing more of your wealth for your loved ones and planning for what will happen after your death to make the lives of your loved ones much easier. It’s not nice to think about but it means that your loved ones can carry out your wishes and be protected from Inheritance Tax.
Protecting, preserving or ultimately distributing wealth
As part of your Inheritance Tax planning, you may want to consider putting assets in trust – either during your lifetime or under the terms of your will.
Achieving your financial goals through investing, and one size does not fit all
Even as we hope to put the coronavirus (COVID-19) pandemic in the rearview mirror in 2021, uncertainty regarding both the virus and Brexit is likely to continue to weigh on the UK and global economies as well as on our personal finances during this year.
Are you protected against future Capital Gains Tax rises?
It is almost inevitable that taxes will have to rise to help meet the potential £391 billion bill the Government has racked up in supporting the British economy through the coronavirus (COVID-19) pandemic. The Office of Tax Simplification (OTS) published a report in November 2020 outlining the policy design and principles underpinning Capital Gains Tax (CGT).
Understanding the different ways you can use your pension money
The UK has seen a rise in the number of people accessing their pension pots or enquiring about doing so. People accessing their pension as a flexible income has increased by 56% according to research since the first lockdown last year. The increase is due to people withdrawing after holding off when stock markets were volatile.
Taking time to understand your financial plans will really pay off
At the start of every year we have great intentions, as financial promises are renewed. Getting our financial life in order will be a top priority for many as we enter 2021. Consider focusing on two key areas: goals related to being prepared for the unexpected this year, and those related to what you want to be different at the end of the year.