Yourself and
your family

Plan for School fees
The cost of school fees can put a strain on the family finances, planning ahead can make this more bearable. As well as investing money in advance, tax should be minimised and all options examined. For example is there a family business where dividend income can be routed directly to the child, thus saving tax?

Moore Stephens Financial Services can provide advice on how much to put aside, how best to invest this and how to minimise the tax drag on your investment returns.

Ensure your family are provided for in the event of death
The loss of a parent or partner cannot be quantified, but the financial consequences can. Moore Stephens Financial Services could help you decide the level of funds necessary to ensure that your family do not face financial hardship in the event of the worst happening.

We can also help examine how best to provide this cover. Often a trust is appropriate or, at the least, cover should be owned by your partner to ensure funds are not caught up in probate when they are most needed.

The type of insurance also needs to be considered carefully. Providing your family with a lump sum of £100,000 might sound a lot, but it will only produce an income in the region of £5,000 a year. It may be better to ensure your family receive an annual income equal to their needs.

Insure your income against illness
Of all of your financial assets, your income is probably the most important! For most people it is the foundation upon which all their wealth and assets are built. Yet how many of us think to insure this against the inability to work through illness or accident?

In recent years claims under both income protection and critical illness policies have been rising fast, underlining how important this type of insurance is.

Critical illness is designed to provide a tax free lump sum in the event of a serious illness. These are defined under the policy but could include cancer, heart attacks, strokes, blindness, loss of limbs etc. Having these funds can allow time off work or relieve other financial pressures such as mortgage payments, at a time when relieving stress may be paramount.

Income protection cover aims to provide a regular tax free income if you are unable to work through sickness or accident. It is designed to pay the income until either you can return to work or you reach the end of the policy term, normally at your retirement.

Moore Stephens Financial Services can advise on which type of insurance is most appropriate and what level of cover would be optimum for you, as well as sourcing the most competitive terms and costings.

Understand your assets for divorce
The break-up of a marriage can lead to many financial worries and a great deal of uncertainty. It forces the re-evaluation of future plans. Moore Stephens Financial Services have the experience to help and guide you through these uncertainties.

Whether you need help with evaluating income or proposed income, providing advice on pension funds and options, arranging investments, advising on mortgage possibilities or just assessing your insurance needs, we are able to offer advice on all areas, and this may help remove many of the uncertainties for you.