Show Notes
As retirement progresses, financial priorities often shift from building and spending wealth to protecting it. In this episode of Retire Well, Matthew and Joe explore the final stage of financial planning, focusing on care fee planning, inheritance tax mitigation, gifting strategies and leaving a meaningful legacy.
The discussion covers key questions many retirees face in their 70s and beyond, including how to fund potential care costs, whether to gift assets during your lifetime, and how trusts can help protect wealth for future generations. Matthew and Joe also explain discounted gift trusts, business relief investments, immediate needs annuities, lasting powers of attorney and the importance of reviewing estate plans as legislation changes.
Using the latest chapter of their ongoing case study, they demonstrate how later life planning is about balancing your own financial security with the desire to support children, grandchildren and loved ones.
Topics covered:
Care home fee planning and common misconceptions Gifting money to family and the seven-year rule Trusts and inheritance tax planning Discounted Gift Trusts explained Business Relief investments and estate planning Lasting Powers of Attorney Immediate Needs Annuities for care costs Balancing financial security with leaving a legacy
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CHAPTERS 00:00 - Introduction 02:39 - Reassessing Your Income & Expenditure 04:15 - Approaching Risk In Later Life 08:45 - Considering Care Fees 18:44 - Reducing Inheritance Tax 24:00 - Discounted Gift Trusts 29:35 - Business Relief 32:55 - Case Study
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Wealth of Advice are authorised and regulated by the Financial Conduct Authority, reference number 563909. Past performance is no guide to future returns. Your investments can go down as well as up, so you may get back less than you originally invested. This video is for educational purposes only and is not personal financial advice.
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