What our clients say
Spending & gifting money to keep the value of your estate under the inheritance tax threshold.
Mr and Mrs G wanted to leave enough money to be just under the inheritance tax threshold of £650,000, assuming they live to age 100. We calculated that, over the next 14 years (bringing them to age 85), they would need to spend or gift approximately £30,000 extra each year. They had to be very careful what they spent their money on so as not to increase the value of their estate. The obvious choice was holidays. Unfortunately, Mrs G was scared of flying so they were quite limited in the places they could visit. We suggested that she went on a flying phobia course which she did. This worked so well that within six weeks they were on a flight to Borneo to fulfil one of Mr G’s lifelong ambitions to see the orangutans. The following month they were in Barcelona with friends. Not your typical estate planning dull, boring or depressing image! In addition to catching up on holidays, they also decided to gift £10,000 each year to their daughter, on the condition it was used to repay their mortgage. Their son in law had been in and out of work and their mortgage was a struggle to pay. Now, the mortgage is projected to be repaid in 5 years, instead of 16!
"David has helped change our mind about our finances. It was very difficult to change a lifetime's mind-set of accumulating money and David has spent a lot of time with us to change our habits by giving us the confidence to spend and gift money. He continually thinks outside the box and encourages us to go on as many holidays whilst we still can. It's also nice to think that the government is effectively contributing 40% towards the cost! David and Bill are always available to speak to if we have any concerns."
Lamb & Associates are lifestyle financial planners. With 26 years in business and a host of professional and industry qualifications you can be confident you have found a reliable team who will offer realistic planning and robust advice.
Many people now expect to live to a great age and to enjoy a standard of living undreamed of in earlier times. In practice this will only be possible if they arrange their affairs so that they will be financially independent and able to afford their desired lifestyle.
We will review your existing arrangements and prepare clear financial statements showing your current and future cash flow and net worth. You have to know where you are now before deciding what needs to be done to achieve your future aspirations. We will help define and cost your desired lifestyle and will use our sophisticated specialist software to create a computer model of your arrangements so that alternative courses of action can be explored and a plan developed which meets your objectives.
Money management is now a full time occupation and financial planning has become essential for anyone who is serious about achieving financial independence and living the life they’ve always dreamed of.
We help our clients organise their affairs, create and protect capital and achieve their desired lifestyle. Our advice is pro-active, independent and objective.
We help you improve the quality of your life through better planning of your investments, your business and your financial and tax arrangements. Some people feel their lives have become unbalanced and they are not enjoying the quality of life that they desire. They have assets but insufficient cash, the fun has gone out of much of what they do and they want to develop their lives in a slightly different way. We can help do this.