A good retirement plan ensures an entrenched life in the later years, the one enjoyed before retirement. Taxation can be one of the main factors that could delay or reduce the retirement pay out. Having an up-to-date and optimum retirement plan is therefore a must.

Briefly, the objective of a retirement plan is to determine the timeline as to the right time for retirement and availability of a good amount of money as the pension fund or from other investments. One of the core objectives is also to save the pension fund, investments, and assets from excessive and maybe unnecessary taxes, as there may be available avenues within the rules through which these can be avoided.

Meeting these objectives may require consideration of different conduits and developing an understanding of which would be the best fit. Failure to plan may have a heavy impact on wealth and cash outflows. Though the list is unending however following areas may need retirement planning advice:

  • Retirement Planning
  • Estate Planning Services
  • Trusts and Estates
  • Business Succession Planning
  • Making a Will
  • Grant of Probate
  • Grant of Letter of Administration
  • Power of Attorney

Aim for a higher return
On Investments (RoI)!

Retirement Planning

Everyone wants to have a good and stable life after their retirement and enjoy a radiant life; here starts the need for a retirement plan. A good retirement strategy determines an optimum time for retirement and minimises the impact of excessive taxation on the money saved for a later age, such as a pension fund. Failure to set a retirement plan beforehand can lead to heavy taxation and reduced funds available.

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Estate Planning Services

Estate Planning is a process of managing a person’s estate such as houses, cars, other assets, and financial obligations upon their death in case of incapacitation. Estate planning can serve many reasons, such as providing the estate for the heirs or the surviving spouse, making a charitable donation, or preserving assets and wealth. Care Accountancy can advise you on different aspects of estate planning according to your circumstances and the implication of laws and regulations on your wealth.

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Trusts and Estates

Estate is the wealth left by an individual for their beneficiaries. Estate planning ensures a smooth transfer of the estate to the beneficiaries or heirs and minimises tax liability. Estate planning, therefore, is concerned with inheritance and related tax rules. If not managed well, beneficiaries may bear heavy charges in the name of inheritance tax. Managing the estate may include determining the assets, setting up a Trust, identifying the trustees, making Will, and appointing Executors and Guardians.

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Business Succession Planning

While the business journey is still on, it is not unusual for a business owner to decide that it’s time to take a back seat and let the next generation take over the role he has successfully run for so many years. This process called succession planning is not as simple as it may seem; as passing on the role to the next generation and identifying as to who will be the most fit-out of several choices to succeed in one or several positions require good judgment, understanding, and a lot of decision making.

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Making a Will

A Will states how the person’s estate should be executed after death. Simply, a Will is a legal document that mentions who will receive what proportion of the deceased’s estate. As mentioned above, Will possesses legal binding, but it should be prepared carefully and under strict conditions so that its legality remains intact.

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Grant of Probate

The person assigned the task of administering someone’s Will needs to obtain permission to execute their wishes, called The Grant of Probate. After that, he will have legal authority to deal with and administer the deceased’s estate. In some cases, a grant of probate is not required; these are stated further with the Procedure of Probate.

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Grant of Letter of Administration
If a person dies without a Will or makes a Will that is not legally valid, the intestacy rules will apply and determine the procedure of sharing out the estate. An intestate person dies without leaving a Will. Only married or civil partners and some other close relatives can inherit under intestacy rules. Specific restrictions apply to sharing the property or the estate, called the laws of intestacy.

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Power of Attorney

Power of Attorney is a legal certification that gives a specified person “The Attorney” the power to act on behalf of another person “, the Principal”. Power of Attorney can be ordinary Power of Attorney and Lasting Power of Attorney (LPA). LPA is subdivided into LPA for Health Decision and Care, which can only be used after the principal has lost his mental capacity, and LPA for Financial Decisions can be used while having a sound mind.

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Because everything
Matters the most!

Tax regulations are subject to frequent change and so should your strategy. An individual could review his personal as well business situation for the tax angle to see their impact. Taxes are inevitable and have to be paid however tax planning can minimise your liabilities.

STEP 1Expectations and delivery

We explain the work process to our clients, timescales, and responsibilities to eliminate any ambiguity. We make promises that we can deliver and align our processes to these commitments.

STEP 2Care and Highest level of Service

Our entire team is extremely passionate about the requirement of our customers and their well-being. We are extremely thankful to them for the level of care and service provided by them.

STEP 3Communication is our strength

The strength of our client relationships vests in regular communication with them, whether face to face or virtual. We ensure that our client’s trust and understand us.

STEP 4You are just not a number

We focus on client relationships who are who are just not a number for us. Our product range is wide to suit their requirements. More importantly, we are always available to them whenever they need us.

Get in Touch

Come and visit our offices or simply send us an email anytime you want. We are open to all suggestions from our clients.
94 Street Lane
9 Sheaf Lane
Coventry Road
B26 3EJ, UK
0113 8870 218
0121 7268 542
[email protected]

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    Leeds: 94 Street Lane, LS8 2AL
    Birmingham: 9 Sheaf Lane, Coventry Road,B26 3EJ
    London: Suite 2462, Unit 3A,34-35 Hatton Garden, EC1N 8DX
    Bradford: 22 Muirhead Drive, BD4 0HJ

    OUR LOCATIONSWhere to find us
    GET IN TOUCHCare Accountancy Social Links
    Taking seamless key performance indicators offline to maximise the long tail.
    Leeds: 94 Street Lane, Leeds
    Birmingham: 9 Sheaf Lane, Coventry Road, Birmingham
    London: Suite 2462, Unit 3A,34-35 Hatton Garden,London, EC1N 8DX
    Bradford: 22 Muirhead Drive, Bradford, BD4 0HJ
    OUR LOCATIONSWhere to find us
    Leeds: 0113 8870 218
    Birmingham: 0121 7268 542
    London: 0208 0908 998
    Bradford: 44 7515 029751
    GET IN TOUCHCare Accountancy Social Links
    Taking seamless key performance indicators offline to maximise the long tail.

    Copyright by CareAccountancy. All rights reserved.

    Copyright by CareAccountancy. All rights reserved.

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