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Case Studies

Why taking pension advice helped a spouse become financially secure and significantly reduce her tax liabilities.

David Penney was recommended by another financial planner to a successful individual in the insurance industry. He was very sadly terminally ill when he came to see us and wanted to get his finances in order for his long term partner, particularly his pensions.

As an unmarried individual with final salary pensions, he was aware that his pension benefits might not be passed onto his partner on his death. He also faced a significant Inheritance Tax liability and had no Will. We suggested drafting a Will as a matter of urgency, and the client was already planning on getting married as soon as possible.

Keeping it in the family – the importance of inter-generational wealth planning.

Longstanding clients of ours in their 70s wanted to start the process of helping out their family and reducing their Inheritance Tax liability. We previously had no relationship with the rest of the family.

Following a full analysis of cashflow requirements, in 2015 we advised a gift of £1 million to be split between the adult son and daughter. The daughter has three children of her own, the son does not have any children.

Turn multiple pensions and investments into a retirement income strategy.

A retired HR executive at one of the world’s largest technology companies approached us through her accountant. Although a very knowledgeable and intelligent individual, she had accumulated a large number of pension plans and investments during her career and wanted to understand how to work through the minefield of UK financial services and turn these pensions and investments into a retirement income strategy.