SJP Planning your legacy
Your pensions can play an important part in your estate planning and securing your legacy.
Proactive estate planning means you’ll be able to pass on the right money to the right people, at the right time. It can be hard to start thinking about the time when you’re not around, but making decisions now can save your family a lot of additional stress and anxiety at an emotional time later on.
An increasing number of us – it could be as high as 70% of the over 65s1 – will need some kind of social care. It can make a big dent in your finances, so working out the best way to pay for this, should you need to, is an important part of later life planning. It will affect the size of your estate and the amount of money you’ll be able to leave your loved ones.
Your St. James’s Place Partner can help you adapt your retirement income needs, and get your finances on the front foot, should you need social care.
1 https://acl.gov/ltc/basic-needs/how-much-care-will-you-need
What happens to your pension when you die
Deciding what happens to your pensions and assets when you die is one of the most important parts of financial planning in much later life.
Find out how your pension can help give your loved one’s financial wellbeing.
Social care planning
Putting social care in place for yourself can involve some emotional choices, and the care system itself can seem incredibly complicated. We can help you work out if you’ll be eligible for any government support, or if you’ll need to self-fund.
Knowing how you’ll pay for social care – even if you never need to – will mean you can concentrate on the most important thing. Finding the best possible care and choosing the right place to spend the rest of your life.
The value of an investment with St. James's Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.
The levels and bases of taxation and reliefs from taxation can change at any time Tax relief is dependent on individual circumstances.