Seven Winning Strategies

These are a few of the strategies I have been discussing at recent Pensions by Candlelight dinners.

  1.   Look for cheap State pension Top Up opportunities

Where you either have fewer than 10 qualifying years or some recent part years

  1.   Stagger Private Pension Withdrawals 

Use your annual tax allowances!!!

  1.    Think Carefully About Where You Take Your Income From

Consider drawing income from your ISA and leaving your pension for the kids

  1.    Expressions of Wishes

Use them to save your children tens or even hundreds of thousands of pounds in inheritance tax

  1.    Give while you’re still alive

Equity release with a fixed-rate lifetime mortgage and gift the proceeds.  Not for everyone, but can work in the right circumstances

  1.    Planning for the Terminally Ill

Capital gains liabilities disappear on death, whilst assets can be left inheritance tax free to a partner.

  1.    Marry Your Daughter’s Boyfriend

A very high risk strategy to use the spousal exemption from inheritance tax!!!!!!

Take care out there

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