Toft Financial Planning
Marble Arch, King Street, Knutsford, Cheshire, WA16 6HD 01565 634084

Financial Planning

Everyone has their own requirements when it comes to financial planning and these are based on their unique circumstances.

Financial planning can include advice on:

Having a financial plan is the first step, but it is important to regularly review this plan to ensure it remains on track and adapt it as and when things change.

So why don't people carry out regular reviews? Well, two possible reasons could be they don't get round to it and they are worried about the cost. At Toft Financial, once we have agreed and set up your financial plan, we arrange and conduct annual reviews with our advisory clients (as well as interim reviews should the clients so wish) and the cost of these reviews is included in our continued advice fee, which is set out during our initial financial planning meeting.

Note: The financial conduct authority do not regulate will writing, loans, credit cards or some forms of mortgage, tax advice, offshore investments and estate planning. There is a risk to your capital, and you may not get back the full amount invested. The value of investments and any income from them can fall as well as rise.

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Retirement Planning

The pensions landscape seems to have changed somewhat - the number of people following the traditional model of someone reaching their pension scheme retirement age, receiving their 'Gold clock' and going from working full time one day to being fully retired the next, is reducing (partly down to the closure of many final salary pension schemes).

Now, many people are considering a more gradual retirement, where they go from working full time to working part time (or changing to a different role) in the lead up to retiring and consequently they need their pension to be more flexible.

Reviewing pensions on a regular basis is important for three reasons:

  1. To see how the pension (and other assets) are aligned to future plans. We assess this using a cash flow model, which we use to look at future income and expenditure.
  2. To assess the impact of any changes in legislation that impacts either your pension contributions or your future pension income.
  3. To review how the funds held in the pension are performing and ensure that they are invested in funds that are suited to your objectives and investment risk profile.

We carry out annual reviews with our financial planning clients (in some instances, the reviews are more frequent when a client is approaching their retirement). These reviews help to answer the key questions and give clients reassurance that they are on track to meet their financial goal.

Note: There is a risk to your capital, and you may not get back the full amount invested. The value of investments and any income from them can fall as well as rise.

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Estate Planning

If you have property or other assets over the value of £5,000, then your valid and up-to-date will should express to your family and loved ones, what you want to happen after your death.

Is your will up to date and does it represent your wishes for your assets and your children upon your death? Call Toft Financial to discuss how we can help.

Within your will, you nominate those people you trust the most to carry out your wishes. They are your executors and trustees of your estate. These people will carry out all the practical things after your death. You will also appoint guardians for young children. These will be the people who will bring up your children as you would have wished until they reach an age when they can make their own decisions in life.

You can nominate gifts to loved ones and ensure that your wishes regarding the distribution of your estate are known. You can even begin to protect property, mitigate Inheritance Tax and protect vulnerable or young beneficiaries using trusts within your will.

Without an up to date, valid will you leave behind an uncertainty, more costs and the law will dictate how your estate is distributed. You will effectively have no say.

So:

  • How would you feel if your spouse/partner became impoverished because you didn't make a will?
  • How would you feel if social services put your children into care because you didn't make a valid will?
  • How would you feel if your family had to pay excessive legal fees because you didn't make a will?

We can answer, reassure and advise you on the following:

  • How can I avoid the state getting my life savings once I am gone?
  • How can I avoid leaving uncertainties for my family to sort out?

We have established a professional connection for the production of a comprehensive range of estate planning services, including basic Wills, Estate Protection Trust Wills, Severance of Tenancy, Lasting Powers of Attorney, Advance Directives, Lifetime Trusts and document storage. We offer this service exclusively for our financial planning clients, with the documents being drafted via thewillcompany.co.uk who are very experienced in these matters. Their team hold a number of qualifications awarded by STEP (The Society of Trusts and Estate Planning - step.org), who are internationally recognised as experts in this field.

If you would like further information on the range of estate planning services that are available, please contact Duncan Selkirk.

Note: The financial conduct authority do not regulate will writing, loans, credit cards or some forms of mortgage, tax advice, offshore investments and estate planning.

Book a free appointment

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