althomson
althomson
100%
of answers helpful
12
posts

Contact

Send an Email
Richard
answered 2 years ago
I found www.simplyfinance.co.uk/tax/inheritance-tax.html to be a good starting point. You may want to read it before contacting an inheritance tax expert.
100% Helpful
report abuse
Expert Financial Adviser Answer
James Brooke
answered 2 years ago
A very few schools offer their own specific policies, but in general there are no insurance policies that are specifically written for school fees protection.

Having said that, a Family Income Benefit Policy can be designed by an Independent Financial Adviser to do the job brilliantly and at a very competitive premium.

The FIB policy will pay out the amount needed for school fees each term, in today's terms, but can also be index linked, usually to RPI, to protect against inflation.

You can also include critical illness cover on a Family Income Benefit Policy.
100% Helpful
report abuse
Expert Financial Adviser Answer
Tony Pomphrett
answered 1 year ago
seek out an insurance specialist and not someone who just uses quoting software. Make sure they have tried to fully understand your circumstances both now and in the future and recommended the plan (not just the cheapest) for you.
100% Helpful
report abuse
Expert Financial Adviser Answer
Paul Richardson
answered 1 year ago
Most life assurance companies ask the question about smoking and to qualify for a non smoker rates you must NOT have smoked for a minimum of 12 months - failure to do this will result in the contract being void for non disclosure and they will not pay out.

Life assurance companies do not set premiums on the amount you smoke only the fact that you smoke.

I hope that helps?
100% Helpful
report abuse
Expert Financial Adviser Answer
Pete Matthew
answered 1 year ago
Being a trustee is an onerous duty. There are powers and duties which must be adhered to, and a professional trustee such as a solicitor knows all these and is qualified and insured to do the job. Having an independent, knowledgable third party can also be useful as tensions can often arise when trusts are run by family members who are laymen.

It does depend on the complexity of the trust and what its intentions are, but the duties mentioned above apply to all trusts. If you wanted a solicitor to act as trustee, then in my experience it is usually the partners of a practice who act as such. Unfortunately this means they are the most expensive. Expect to pay between £100 and £200 per hour.

Happy to give more detail if you can let me know what kind of trust you are talking about
100% Helpful
report abuse
Expert Financial Adviser Answer
John Stirling
answered 1 year ago
'Always' is a long time, but it is likely that an individual with poor credit will always pay more than an individual with good credit at the point of application.

If you can keep yourself clear of problems for a while then credit worthiness does improve, but the question does arise, if you are someone who will 'always' have bad credit, is taking out a mortgage a good idea - lenders who offer mortgages to individuals with poor credit histories tend not to be the most patient when you run into problems.

If on the other hand it is an event that mucked you up (ill health and joblessness being the two classic examples) then show that it was a blip, even a big blip by keeping things straight now, and over time things will improve. Far quicker than you expect in some cases.
100% Helpful
report abuse
Expert Financial Adviser Answer
Darren Smith
answered 1 year ago
To a degree yes it is a marketing hype but that doesnt mean you shouldnt take advantage!

if the terms of the account suit you, does it really matter that its called a christmas account (unless if it offends in some way) in the past there were often good savings accounts to supporters of certain football clubs with some money being paid to the club in recognition (these were historically with smaller local building societies).

usually the only time you might fall foul of these accounts are the ones marketed to first time buyers as they might link the savings rate to insisting that you apply for a mortgage with the same company, although the savings rates might be good, the mortgage ones might be useless.

Basically, if once you have read all the terms and conditions, if there is nothing screaming at you to stay away, it will probably be a good idea.

and looking on the bright side, wouldnt you rather spend your own money on next christmas as opposed to "hoping" that you will be accepted for that 0% credit card next November?
100% Helpful
report abuse
Expert Financial Adviser Answer
Paul Ross DipPFS CII(MP&ER)
answered 1 year ago
The government has increased the IPT rate for any cover that will become effective on or after 04 January 2011. The new rate of IPT will apply to new business, renewals and mid-term amendments, as shown below.

Categories IPT Pre 04/01/2011 IPT From 04/01/2011
Motor 5% 6%
Rescue 5% 6%
Home 5% 6%
Pet 5% 6%
Travel 17.5% 20%
100% Helpful
report abuse
Expert Financial Adviser Answer
Paul Ross DipPFS CII(MP&ER)
answered 1 year ago
You are correct, it doesn't make sense not to set up the policy in trust. It ensures payment is quicker and more efficient. I set up a policy in trust for one client and after she died suddenly, the partner was paid £300k 6 days later. The rest of the estate was settled 10 months later. It not only ensured £120k of IHT savings, but also the solicitor charged 3% for administering the state, hence another £9,000 savings. This is perfect example of why it should be done
100% Helpful
report abuse
MoneyTalks
answered 2 years ago
Based on http://www.ukpower.co.uk/home_energy/price_updates, it looks like gas suppliers and electricity suppliers change prices, tariffs, and deals almost daily.
100% Helpful
report abuse

IFAs I'm Following (18)

Members I'm Following (0)

You are not following any Members