Welcome to LifeTalk Insider #12

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LifeTalk Insider
July 21, 2023 • Estimated Reading Time: 7 minutes

From the LifeTalk forum week ending 21st July

Welcome back and thanks to everyone who has subscribed to LifeTalk Insider - your weekly summary of the top posts in the LifeTalk group. Important: Please do contribute to the poll further down this page. Thanks in advance…

Here’s this week’s selection…

Jane and 70 others: £2.5m residential properties held privately - is there a way to move to company without CGT and to reduce IHT? Click…

Paddy and 47 others: What sort of planning would you suggest for someone who wants to gift money to a child but worries that if there is a marital breakdown the child's partner could part with some of the assets? Click…

Michael and 30 others: I'm looking for people with experience of buying and selling IFA businesses. Click…

Andrew and 3 others: A potential client has asked me about taking his two defined benefit pension schemes as he has reached the schemes' NRA. He has fixed protection 2016 (LTA £1,250,000). He has already used 46.67% of his fixed protection LTA. This was three years ago from a defined contribution scheme. Question…

Gosia and 19 others: I have potential clients - mother and daughter. The mother purchased a property from the council 7 years ago (she is 80). The daughter has helped financially to buy it on the premise that they will live with her to help and will inherit the property. Since the house is now worth way over £500,000, there is potential IHT payable. The mother purchased the house after her husband died, so what NRB would apply - single or spousal? Also, would it help if the daughter moved half of the property into her name? The mother might need care in the future. Click…

Anonymous and 63 others: I’m interested to know peoples views on this case, as I’m currently torn. I’ve recently inherited a client. 5 years in and barely any growth to show for it, more so because of last 18months. Turned up to his review meeting adamant he needed as much growth as possible over the next 4 years for him to retire. He wants to look at reducing charges and maximising growth (who doesn’t). Question…

Eamonn and 11 others: If a husband has a large pension of 3.5m (not sure if final salary or DC pot). The husband and wife separated 6 months ago, and the wife issued divorce proceeding in February. The husband is not communicating at all. My question is, can the solicitor write to the pension company and request the DB pension not be transferred out and put a freeze on any transfer? Click…

Michael and 20 others: I’ve been referred an individual who is resident in Isle of Man, deferred member of the NHS pension here in UK, and active member of (I believe) the unified scheme in IoM. He wants to take benefits from the NHS scheme, possibly by transferring to the IoM scheme if that’s beneficial. Is there anyone here experienced with such matters (IoM residents and NHS pension) that might be willing to take on this client? It’s not my expertise and just want to find someone who can take this on. Click…

Stuart and 37 others: I have a client who wants to 'go it alone', managing their investments, pensions, and drawdown income. They are currently with Nucleus. Can anyone suggest a good, reasonably priced platform that will allow them to do this? Click…

Jane and 13 others: Two separate family-owned Ltd companies - is there any benefit it making a holding company? And also any benefit to setting up young children as shareholders? Click…

Lindsay and 15 others: I have a client who made a gift 2 years ago. Silly question can I get gift intervivos for last 5 years? Click…

Post of the Week

Question/research: You have an unexpected day off; what would be your go to, first choice activity? Click…

From LifeTalk Marketing

Do you send out a newsletter to clients and prospects? How we got 688 new subscribers in 24 hours. Click…


Simple, quality video from Daniel Priestley, with a lesson for financial planners. And it's not just about your pitch… Click…

Money Quote of the Week

“The habit of saving is itself an education; it fosters every virtue, teaches self-denial, cultivates the sense of order, trains to forethought, and so broadens the mind.” Theodore T. Munger

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