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The need to protect them against the financial consequences of parental death usually ends. Parents have often reached the peak of their earning potential and salary increases begin to slow in the years before retirement. If professional advice had been sought earlier on, plans would now be maturing and releasing capital and income for immediate use or further investment. This is also the period in life when people are most |
likely to receive legacies from their own parents or other relatives. This is the final opportunity to bolster pension funds and preserve a standard of living in retirement. If nothing has been planned earlier, this is the moment for arranging the disposal of estates at death. Professional financial advice to mitigate the effects of inheritance tax should be sought and existing arrangements for this purpose reviewed. | |||||
