Later life planning

Together we can develop a plan that will provide confidence and help you meet your long-term financial needs. I’m then here to provide peace of mind through this process.

The average cost of UK residential care is £34,944 a year – £49,724 if you also need nursing care.* The average stay is three years, so costs can quickly add up*.

The St. James’s Place Later Life Planning Scheme gives you peace of mind by helping you to plan for Inheritance Tax (IHT) and secure an income to help cover any long-term care costs.

These are some of the points we will look at:

  • How to make tax-efficient cash gifts to loved ones
  • Your exposure to Inheritance Tax
  • Arranging a pre-set income for life to help safeguard against the future
  • Keeping control of your money
  • The benefits of using gifts and trusts**

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.

If the income taken exceeds the growth on the Plan, the capital will be eroded.

The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances.

*Source: Laing and Buisson Care Homes for Older People, 32nd edition, 2022

**Trusts are not regulated by the Financial Conduct Authority.