S2 Ep8: End of Life Planning

In the final episode of the ‘Key Life Stages’ season, Simon and Bex discuss key financial elements involved in making thoughtful, appropriate and helpful end of life arrangements.

Some key points covered in this episode include the following:

• Simon explains why end of life planning is important. [00:25]
• Simon highlights that a key factor affecting financial planning in this area is the extent to which resources can be passed on to others. In the first instance, he describes the situation as far as pensions are concerned. [03:15]
• Simon goes on to talk about the heritability factors that apply to Individual Savings Accounts (ISAs). [10:45]
• Simon then explains the heritability characteristics of General Investment Accounts (GIAs) and Investment Bonds. [13:08]
• Simon speaks about the importance of simplifying financial arrangements [15:34] at this stage of life, before going on to cover Wills and Powers of Attorney [18:53], Deeds of Variation [20:10] and the Nil Rate Band [21:17].
• He concludes with some quickfire pieces of advice: be organised [23:01]; consider running a credit check on yourself [23:30]; get your family involved sooner rather than later [23:48]; and if you have more than you need, spend it or give it away [24:23].
• Simon draws attention to the fact that the recording of Season 3, ‘Practical Financial Planning’ is now complete. The final episode, ‘Estate Planning’, will be released next week. [25:26]

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