S3 | Ep1
Financial Planning After Pension & Inheritance Tax Reforms
Following recent changes to pensions and Inheritance Tax laws, what should people be doing to manage their wealth and protect the legacy they leave their loved ones?
In this episode, Melinda Giles is joined by Peter Ryan, Director & Chartered Financial Planner at Intellego Financial Planning, to discuss what the changes to pensions and Inheritance Tax really mean, and what they can do today that will make the biggest difference tomorrow.
They also explore common mistakes people make with wealth planning, the importance of having both legal and financial advice, and much more in this thought-provoking edition of the #TVLawyer podcast.
In this episode, you’ll discover:
What people often get wrong about financial advice
What changes to pensions and Inheritance Tax could mean for you
Who is affected most by these changes
The biggest mistake people make with their pensions and savings
The difference that good financial planning can make
Why you should be talking to both a solicitor and a financial adviser
The simple step that helps you ease into this process
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Chapters
0:00 - Introduction
1:15 - What does a financial planner do?
2:25 - Who typically comes to a financial planner for advice?
3:12 - What do people tend to get wrong about financial advice?
3:55 - What has changed for pensions and Inheritance Tax?
6:21 - Who will be affected most by these pension changes?
8:18 - Understanding Inheritance Tax bands
9:03 - What’s the average pension pot in the UK?
10:27 - Why do people put off financial planning?
11:54 - Common mistakes about pensions and savings
14:30 - Getting pension advice is more important than ever
16:30 - Inheritance Tax is taxed at 40%
17:28 - The right and wrong approaches to estate planning
18:55 - Making financial decisions takes time
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With over 25 years of specialist experience, Melinda Giles is one of the UK’s leading contributors, speakers and authorities for private client law.
A standout voice for all private client matters on TV, radio and podcasts, including well-received appearances on BBC Breakfast, Sky News, The Martin Lewis Money Show Live, Money Box and more, Melinda’s candid #TVLawyer video podcast answers the crucial questions people have about wills, probate, Powers of Attorney, and all aspects of later life planning.
Need help with later life planning? Contact Giles Wilson: https://www.gileswilson.co.uk/
Want to learn more about Melinda? Visit her website: https://www.melindagiles.com/
