When thinking about how parents will split their assets between children, it’s often assumed wealth will be evenly distributed. However, a survey suggests that, for a variety of reasons, a significant proportion of inheritances may not be.

According to a report in Money Age, just 55% of UK adults plan to split their wealth equally among their children. If you don’t want to split your estate evenly, it can make writing your will and estate planning more complex. It’s important to think about how you’d like your assets to be distributed to en...

While investment decisions should be based on facts, many investors find their decisions are sometimes influenced by emotions. Whether you’re excited about an investment opportunity, or worried about market volatility, keeping emotions in check can help you make better investment decisions.

According to research from Barclays, half of investors admit to making impulsive decisions based on their emotions. While these decisions can seem right at the time, 67% of investors said they go on to regret their choice. Worries during short-term marke...

The Bank of England (BoE) is reviewing the stress tests that mortgage lenders must carry out. For those looking to purchase a house, it could improve their chances of securing the money they need to buy a home and may mean you can borrow more.

Stricter rules for mortgage borrowing were introduced after the 2008 financial crisis. Before the crisis, some borrowers overextended themselves and it was possible to take out a mortgage up to 125% of the property’s value. As property prices fell and unemployment rose, this led to some homeowners fin...

If you’ve yet to retire, you may give little thought to the State Pension. But the government is currently reviewing it, which could mean millions of people will need to wait longer than expected until they can claim it.

The State Pension Age is now equalised for men and women and is currently 66, but there is already a gradual increase planned. By 2046, the State Pension Age will reach 68 for those born on or after 1 April 1977. Once you reach State Pension Age, you can begin to claim your State Pension, which will then provide an income f...

Inflation in 2021 is expected to hit 4%. Inflation means the cost of living will rise and, for mortgage holders, knock-on effects could mean the cost of a mortgage becomes higher.

From grocery shopping to electronic goods, prices are rising. The Bank of England now expects UK inflation to rise above 4% by the end of the year, double its 2% target. There are numerous reasons for inflation rising, including shortages caused by temporary factory closures due to the pandemic.

Families across the UK are likely to find their day-to-day spending ...

More over-55s are choosing not to downsize their homes. The sense of community they enjoy in their current home and the space it affords them means the next generation of retirees are more likely to stay in their current home. It’s a choice that could lead to a better quality of life in retirement if planned carefully.

Just 1 in 4 homeowners over 55 plan to downsize

According to research from Legal & General, 1 in 4 homeowners over 55 plan to downsize. Traditionally, homeowners have sold their family homes and bought smaller properties as ...

If Inheritance Tax (IHT) is a concern for you, taking out a life insurance policy could mean your estate passes to loved ones intact. With some careful planning, a life insurance payout can cover your IHT liability and ensure assets are passed on to your loved ones.

Planning what will happen after your death isn’t easy, but being proactive is important and can help ensure your assets are passed on effectively.

£2.7 billion paid in IHT between April and August 2021

According to figures from HMRC, between April and August 2021, £2.7 billion...

Thinking about passing away and leaving loved ones behind can be incredibly difficult. While it can be challenging, many Brits have thought about what their preferences would be, and millions want their loved ones to celebrate their life.

According to a survey from Co-op Funeralcare, a third of Brits feel like funerals, in general, are too sombre and should be more uplifting. So, it’s not surprising that an estimated 35 million would prefer their funeral to be a celebration of life. This could cover a variety of areas including attire, with...

Accessing and paying for care have become big issues. As more people reach old age, more people will inevitably need some level of support as they get older. Now, the government has taken steps to fund social care and limit the cost to individuals.

So, how does the new care cap work and who will benefit from it?

Social care reform: A National Insurance hike and care cap

In September 2021, the government announced some key changes to social care and how it’s funded.

Among the changes is a National Insurance (NI) hike. NI contributions wi...