Ask Money

Ask Money: should DIY investors stick with just one fund?

December 15, 2018

Looking at the Money Observer Model Portfolios in the November Grow Money section, it appears that a FTSE World index tracker does better than most of the other holdings. It seems there is a strong case for personal investors such as myself to choose only one fund, which would be the best world equity tracker.

Ask Money: how can we help our daughter financially?

December 8, 2018

My wife and I own a rental property that provides us with a modest income that supplements our pension income. Our daughter, who will be the sole beneficiary of our reciprocal wills after we both die, has recently had to give up work due to illness, so we are considering options to help her financially by executing part of her legacy in advance. We feel that if we were to offer her direct cash, pride (though virtuous) would override practicalities and she would refuse it.

Ask Money: does borrowing to invest make sense?

December 1, 2018

I would appreciate your opinion on the way I have organised financial affairs for my wife, aged 83, and myself, aged 88. We have already consulted our solicitor and an independent financial adviser (IFA), who both disagreed with my approach but had no clear alternative to offer.

Ask Money: what are the tax rules for my overseas family?

November 24, 2018

I have a fairly substantial Sipp that I do not need to access for the foreseeable future, and I therefore plan to use it for inheritance planning purposes. I am 68, and I understand that if I die before the age of 75, the entire Sipp can be given to my nominated beneficiaries free of tax. 

Ask Money: how does IHT work in relation to legacies to charities?

October 27, 2018

Leaving cash to charity

Can you please tell me how inheritance tax works in relation to legacies to charities? I do not have a spouse or children and the value of my estate will exceed £325,000. Am I able to leave up to £325,000 to individuals and the remainder to charities without incurring liability to IHT? 
J. Runham, Northants

Ask Money: can I transfer my public sector pension?

October 21, 2018

Pension transfer blocked

The increase in the number of final salary pension transfers has been featured in the recent May and June issues of your excellent magazine. Both articles examine an increasingly popular view, following the pension freedoms of 2015, that defined benefit pensions may no longer be the best option.