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.
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.
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.
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.
Income tax calculation
I am an avid subscriber. I have never asked for advice before, but I would be grateful for a little help on the following problem.
Eye on the Sleuth
I write to ask how I could track the performance of your Share Sleuth portfolio over each of the past three calendar years – 2016, 2017 and 2018 (to date).
Solutions to investment success IHT ‘problem’
I enjoyed the excellent article in the September issue on trusts for managing inheritance tax. I’m in my early 70s with a comfortable pension and enough capital to be looking at a six-figure inheritance tax bill. It’s clearly time to take action. I’ve been mulling this over for a couple of years.
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
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.
Help to Buy Isa versus Lifetime Isa: we weigh up the pros and cons.