Advice for the widow

I wanted to work with a friendly, approachable adviser who could answer all my queries. I’m an 84 year old widow living on my own, after my husband passed away more than ten years ago. I held a pension from my late husband, as well as savings and investments I’d accumulated over the years.

I received paperwork from HMRC and numerous providers. I didn’t understand it, nor did I care to worry about it at this stage in my life. Then, after a discussion with my son, I decided I needed better organisation and peace of mind.

When I met with Warren at Lexington we discussed what I was looking for. He explained the risks associated with my current arrangements and the options available to me in terms I could understand. The team then created a Lifestyle Financial Plan, illustrating my current position and what the future might look like.

Warren invited my son to sit in on the meetings and discuss my financial future. The team at Lexington helped me to reduce my investment risk and structure my affairs more simply and tax efficiently. Warren explained the importance of having a Will and Lasting Power of Attorney, and showed me my inheritance tax (IHT) position.

We discussed a number of options regarding my inheritance tax liability. After much consideration I decided to insure my liability. The team at Lexington set-up a Trust structure, which in the event of my death, will pay for the liability.

Lexington also arranged to take care of my tax returns, using one of their professional partners, which means I don’t have to deal with HMRC anymore.

The team at Lexington completed the application and Trust forms, sent me copies and arranged the medical examinations so that I didn’t have to worry about a thing. They are very flexible and don’t mind if I call whenever I have a concern or query. They call me every few months to check up on how I am getting on and we meet each year.

I had no upfront legal fees, no big Trust fees and I am not committed to any term or scheme. Thanks to Warren, I understand what I am holding and how it works. I can rest assured that, in the event of my death, my children will not need to find a large lump sum of money to pay an inheritance tax bill.

To speak to a member of our team about your financial affairs, call 01793 771093 or email theteam@lexingtonwealth.co.uk.

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