BEACON WEALTH MANAGEMENT LTD
- To Infinity and Beyond
September - November 2018
I think we all remember Toy Story, with Woody, Buzz Lightyear, Jessie, Mr Potato Head, Hamm, Rex and Slinky, and the phrase “To infinity and beyond”.
Using this as a tenuous link to Buzz Aldrin, who with Neil Armstrong, became the first two astronauts to land on the moon, on 21st July 1969. (Something I guess many of you remember).
Well Buzz Aldrin is having quite a horrid time at the moment...
...suing two of his children and former manager who he claimed are spending his money, having claimed he has dementia which he disputes.
This sad but high-profile case, should serve as a reminder that you need to be very careful about who you choose to appoint, in both your Will and Powers of Attorney, because guardians and attorneys do have a lot of power and authority when called on to act.
Your financial plan is designed to help you enjoy life to the end and be flexible in case of early demise, care fee planning or others in need you wish to help.
Pensions today are usually utilised via a drawdown facility and are closely monitored.
Investments are managed to an agreed level of risk, access and tax efficiency.
Low paying cash ISA’s usually switched to low risk stocks and shares ISA’s.
Whatever the structure there is a plan.
Those chosen by you to act as if they are you need to know you well, so appoint them carefully and leave detailed instructions.
Pensions today are not part of your estate for Inheritance Tax and can be used to pass wealth down through the generations in a tax efficient way.
Poorly worded instructions can lead to your wishes being ignored.
If you think you could have issues – even if it’s only with one child, then action can be taken to protect your wishes.
Whilst you are healthy and fully compos mentis, spend a bit of time with your financial adviser and solicitor or us if you prefer, in deciding what you actually need when – perhaps even with the aid of a cash flow plan.
We help construct many such plans and recognise that whilst they must be open to change they need to have proper thought given to them.
Your money needs to last to infinity and beyond.
Should you require financial assistance for pensions, savings, investments, mortgages, protection, long term care, employee benefits... contact the team at Beacon Wealth Management Ltd.
Tel: 01480 869466
The Old Chapel, Thrapston Road,
Kimbolton, Cambridgeshire, PE28 0HW