PROTECTION PLANNING

There was a time when protecting an estate was a concern for only the wealthy. Today, anybody can find themselves struggling to understand the complexities of estate protection and Inheritance Tax processes.

Most of us are aware of the need to make plans to ensure we are protected, but very few of us are doing anything about the potential liability. It’s not solely about Inheritance Tax either. These days, more than ever, it’s vital to consider so many other variables. How does Capital Gains Tax affect you? What would happen in the event of illness? Are you prepared should you suffer a loss of income?

We will asses your individual situation and requirements, before devising a plan to ensure you have the protection and peace of mind you need. We’re here to ensure that, when it comes to protecting your estate, you’ll get all the help, advice and support you need.

Wills and Powers of Attorney

Let us help you put everything in place to ensure that your Will and a Lasting Power of Attorney are in order. These are crucial elements of any effective form of financial planning.

Wills and Powers of Attorney

Ensuring your affairs are in order is one of the most important aspects of financial planning. By putting in place some simple arrangements you can make clear your wishes, which can alleviate and offer reassurance to loved ones faced with making difficult decisions on your behalf.

Making a Will is vital in Inheritance Tax (IHT) planning and it is important to ensure it is well written and planned correctly. A carefully drafted Will can help your heirs plan for IHT appropriately by making the most of the tax reliefs available and ensuring your assets go where you want them.

Remember, a Will drawn up many years ago may not still hold good today, so it’s important to take a regular review of its provisions, and relevance to your changing circumstances.

Power of Attorney

For some of us, there will come a time when we are not physically or mentally able to make decisions for ourselves. It’s important to plan in advance so someone you know and trust can manage your affairs for you, if the need arises.

We have access to a number of legal service providers which can arrange Wills & Powers of Attorney on your behalf as part of the service and advice we provide when it comes to protecting you and your estate.

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.

The writing of a Will or Powers of Attorney involves the referral to a service that is separate and distinct from those offered by St. James's Place. Wills and Powers of Attorney are not regulated by the Financial Conduct Authority.

Protection Planning

The future is uncertain, but we will help ensure you’re as prepared as possible. We provide advice and services covering all forms of life insurance, critical illness cover and disability insurance.

Protection Planning

Protection answers our fundamental desire to keep safe things that we hold dear.

Choosing which specific types of insurance should be a priority for you can be a tricky task.

Which of the following insurance covers would be top of your priority list?

  • Stolen car
  • Burglary
  • Major illness, e.g. heart attack
  • Stolen credit cards
  • Fire at home
  • Your family surviving without your income

Most people feel that all of the above insurance covers are important to them.

But how many of them do you currently have?

Providing protection cover in the various forms of life, critical illness and disability solutions is one of the fundamentals of our business.

Working with carefully selected providers, we offer an extensive product range including:

  • Life Cover (including Term Assurance and Whole of Life)
  • Critical Illness
  • Income Protection
  • Employee Benefits
  • Private Medical Insurance

These are just a selection of the solutions available.

We would love to sit down with you and discuss your own personal circumstances, before tailoring a solution specifically for your needs.

Professional Trustee Services

St. James's Place have a Jersey- based business, dedicated to providing an extensive range of services for trustees. Matters are discussed in detail and placed on record, discreetly and confidentially.

Professional Trustee Services

A Trust is an agreement between an owner of assets and the trustees. The trustees legally own the assets of the Trust but are not allowed to benefit themselves - unless they are also beneficiaries.

The Trust is a legal entity that holds your assets before they are eventually released to those you designated to receive them. Its main value is in its ability to keep your estate out of probate after your death.

In recognition of the vital role trusts play in modern financial planning, the Genus Trust Company in Jersey specialises in the provision of trustee services. Jersey enjoys complete autonomy in its internal affairs, including taxation and other legal issues, and has a strong financial infrastructure, befitting its position as a leading centre for international finance.

The Genus Trust Company has been established to forge lasting relationships with clients, providing services and an extensive range of solutions as opposed to selling products. As a trustee the company represents the interests of the beneficiaries and ensures due regard is given to clients' wishes and guidance. In all cases these wishes are discussed in detail and placed on record, discreetly and confidentially.

Trusts are not regulated by the Financial Conduct Authority. However, please be aware that Genus Trust Company Limited is regulated by the Jersey Financial Services Commission.

Wills and Powers of Attorney

Ensuring your affairs are in order is one of the most important aspects of financial planning. By putting in place some simple arrangements you can make clear your wishes, which can alleviate and offer reassurance to loved ones faced with making difficult decisions on your behalf.

Making a Will is vital in Inheritance Tax (IHT) planning and it is important to ensure it is well written and planned correctly. A carefully drafted Will can help your heirs plan for IHT appropriately by making the most of the tax reliefs available and ensuring your assets go where you want them.

Remember, a Will drawn up many years ago may not still hold good today, so it’s important to take a regular review of its provisions, and relevance to your changing circumstances.

Power of Attorney

For some of us, there will come a time when we are not physically or mentally able to make decisions for ourselves. It’s important to plan in advance so someone you know and trust can manage your affairs for you, if the need arises.

We have access to a number of legal service providers which can arrange Wills & Powers of Attorney on your behalf as part of the service and advice we provide when it comes to protecting you and your estate.

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.

The writing of a Will or Powers of Attorney involves the referral to a service that is separate and distinct from those offered by St. James's Place. Wills and Powers of Attorney are not regulated by the Financial Conduct Authority.

Protection Planning

Protection answers our fundamental desire to keep safe things that we hold dear.

Choosing which specific types of insurance should be a priority for you can be a tricky task.

Which of the following insurance covers would be top of your priority list?

  • Stolen car
  • Burglary
  • Major illness, e.g. heart attack
  • Stolen credit cards
  • Fire at home
  • Your family surviving without your income

Most people feel that all of the above insurance covers are important to them.

But how many of them do you currently have?

Providing protection cover in the various forms of life, critical illness and disability solutions is one of the fundamentals of our business.

Working with carefully selected providers, we offer an extensive product range including:

  • Life Cover (including Term Assurance and Whole of Life)
  • Critical Illness
  • Income Protection
  • Employee Benefits
  • Private Medical Insurance

These are just a selection of the solutions available.

We would love to sit down with you and discuss your own personal circumstances, before tailoring a solution specifically for your needs.

Professional Trustee Services

A Trust is an agreement between an owner of assets and the trustees. The trustees legally own the assets of the Trust but are not allowed to benefit themselves - unless they are also beneficiaries.

The Trust is a legal entity that holds your assets before they are eventually released to those you designated to receive them. Its main value is in its ability to keep your estate out of probate after your death.

In recognition of the vital role trusts play in modern financial planning, the Genus Trust Company in Jersey specialises in the provision of trustee services. Jersey enjoys complete autonomy in its internal affairs, including taxation and other legal issues, and has a strong financial infrastructure, befitting its position as a leading centre for international finance.

The Genus Trust Company has been established to forge lasting relationships with clients, providing services and an extensive range of solutions as opposed to selling products. As a trustee the company represents the interests of the beneficiaries and ensures due regard is given to clients' wishes and guidance. In all cases these wishes are discussed in detail and placed on record, discreetly and confidentially.

Trusts are not regulated by the Financial Conduct Authority. However, please be aware that Genus Trust Company Limited is regulated by the Jersey Financial Services Commission.

Later life planning

When it comes to planning for later life, there is so much to consider. We can assist with Inheritance Tax planning, making Gifts to your heirs and securing an income for your long-term health care.

Later life planning

Thanks to better medical care and healthier lifestyles, we have the prospect of living longer.

However, an increase in life expectancy brings a number of financial implications.

The average cost of a residential care home in the UK is around £32,344 a year, rising to £44,512 if nursing care is also required. The average stay in UK care homes is three years, which means the associated costs can be substantial*.

The St. James's Place Later Life Planning Scheme enables you to plan for Inheritance Tax (IHT) by providing monetary gifts to your loved ones and securing an income to help cover your long-term care costs.

Our goal is to help you meet your own individual financial needs across your lifetime and long-term care planning can be a vital component of our service.

The scheme helps provide peace of mind, enabling you to plan your IHT exposure, make gifts to your heirs during your lifetime and secure a pre-set income should you need long term care in the future.

Key benefits of the St. James's Place Later Life Planning Scheme

  • Safely make monetary gifts to loved ones across your lifetime
  • Plan your exposure to Inheritance Tax
  • Arrange a pre-set income for life to help safeguard against future
  • Keep control of your money
  • Benefit from using gifts and trusts**

The value of an investment may fall as well as rise. You may get back less than the amount initially invested. If the "income" taken exceeds the growth on the Plan, the capital will be eroded.

*Source: Laing & Buisson Report 2017/18

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

Inheritance Tax

Planning your retirement puts you in control, meaning you can be confident about your future security. If you don't start planning now, you could outlive your savings, no matter when you intend to retire.

Inheritance Tax

There are a number of steps you can take to mitigate Inheritance Tax. We will take the time to understand your own specific circumstances and work with law firms to ensure you are fully protected.

Gifts

It’s vital to understand how making a gift of money or assets can help to create a valuable exemption from Inheritance Tax. We will asses your circumstances and help maximise your Gifting allowances.

Gifts

When it comes to taking full advantage of exemptions on your Inheritance Tax, Gifting can be one of the most valuable options available to you.

There are several approaches you can take with gifting. We can help you better understand which ones are available to you and which are best suited to your own individual circumstances.

Are you aware that you have a £3,000 annual exemption to Gifting?

Using income to fund the contributions to a life policy held in Trust* may be immediately exempt if you meet certain criteria.

Parents are able to give up to £5,000 every year to each member of a marriage or civil partnership.

And, in certain circumstances a lifetime Gift of capital, designed to maintain a dependant, may also be exempt.

Further exemptions include, Gifts to charities, donations to political parties or institutions which exist for public benefit, such as universities, national museums, and the National Trust.

The information on this website is based on our interpretation of the current law and HMRC practice.

Taxation legislation and HMRC practice may be subject to unforeseen changes in the future.

*Trusts are not regulated by the Financial Conduct Authority.

Later life planning

Thanks to better medical care and healthier lifestyles, we have the prospect of living longer.

However, an increase in life expectancy brings a number of financial implications.

The average cost of a residential care home in the UK is around £32,344 a year, rising to £44,512 if nursing care is also required. The average stay in UK care homes is three years, which means the associated costs can be substantial*.

The St. James's Place Later Life Planning Scheme enables you to plan for Inheritance Tax (IHT) by providing monetary gifts to your loved ones and securing an income to help cover your long-term care costs.

Our goal is to help you meet your own individual financial needs across your lifetime and long-term care planning can be a vital component of our service.

The scheme helps provide peace of mind, enabling you to plan your IHT exposure, make gifts to your heirs during your lifetime and secure a pre-set income should you need long term care in the future.

Key benefits of the St. James's Place Later Life Planning Scheme

  • Safely make monetary gifts to loved ones across your lifetime
  • Plan your exposure to Inheritance Tax
  • Arrange a pre-set income for life to help safeguard against future
  • Keep control of your money
  • Benefit from using gifts and trusts**

The value of an investment may fall as well as rise. You may get back less than the amount initially invested. If the "income" taken exceeds the growth on the Plan, the capital will be eroded.

*Source: Laing & Buisson Report 2017/18

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

Inheritance Tax

There are a number of steps you can take to mitigate Inheritance Tax. We will take the time to understand your own specific circumstances and work with law firms to ensure you are fully protected.

Gifts

When it comes to taking full advantage of exemptions on your Inheritance Tax, Gifting can be one of the most valuable options available to you.

There are several approaches you can take with gifting. We can help you better understand which ones are available to you and which are best suited to your own individual circumstances.

Are you aware that you have a £3,000 annual exemption to Gifting?

Using income to fund the contributions to a life policy held in Trust* may be immediately exempt if you meet certain criteria.

Parents are able to give up to £5,000 every year to each member of a marriage or civil partnership.

And, in certain circumstances a lifetime Gift of capital, designed to maintain a dependant, may also be exempt.

Further exemptions include, Gifts to charities, donations to political parties or institutions which exist for public benefit, such as universities, national museums, and the National Trust.

The information on this website is based on our interpretation of the current law and HMRC practice.

Taxation legislation and HMRC practice may be subject to unforeseen changes in the future.

*Trusts are not regulated by the Financial Conduct Authority.

Estate Administration

It’s time-consuming and stressful to deal with the financial affairs of a loved one after they die. We will help you understand what needs to happen in terms of legal, financial and tax arrangements.

Estate Administration

Estate administration is the process of dealing with a person’s legal, financial and personal tax affairs after they have died.

It involves obtaining a grant of probate (confirmation in Scotland). But this is just one element of the process.

All of the deceased's assets need to be dealt with. These could be property, investments, personal possessions, and liabilities, such as outstanding debts and estate expenses.

Other aspects of estate administration can include:

  • Notifying beneficiaries and dealing with their questions
  • Redirecting post and cancelling or transferring utilities
  • Dealing with any Income Tax liabilities
  • Advising on the distribution of assets to avoid or mitigate tax liabilities
  • Calculating and paying Inheritance Tax where relevant
  • Dealing with specialist legal work

Although you could decide to administer an estate by yourself, this could take a significant amount of time and effort. It also leaves you personally liable for any mistakes made during the process.

Whether simple or complex, the issues faced with dealing with the death of a loved one are rarely straightforward; not least because they involve procedures most of us are not used to dealing with. Financial matters are the last thing on our minds.

St. James's Place have selected Kings Court Trust as our preferred provider of estate administration, to deliver an estate administration service. Kings Court Trust is one of the leading specialist estate administration service providers in the UK and, like us, they place their clients at the very heart of everything they do.

Estate Administration

Estate administration is the process of dealing with a person’s legal, financial and personal tax affairs after they have died.

It involves obtaining a grant of probate (confirmation in Scotland). But this is just one element of the process.

All of the deceased's assets need to be dealt with. These could be property, investments, personal possessions, and liabilities, such as outstanding debts and estate expenses.

Other aspects of estate administration can include:

  • Notifying beneficiaries and dealing with their questions
  • Redirecting post and cancelling or transferring utilities
  • Dealing with any Income Tax liabilities
  • Advising on the distribution of assets to avoid or mitigate tax liabilities
  • Calculating and paying Inheritance Tax where relevant
  • Dealing with specialist legal work

Although you could decide to administer an estate by yourself, this could take a significant amount of time and effort. It also leaves you personally liable for any mistakes made during the process.

Whether simple or complex, the issues faced with dealing with the death of a loved one are rarely straightforward; not least because they involve procedures most of us are not used to dealing with. Financial matters are the last thing on our minds.

St. James's Place have selected Kings Court Trust as our preferred provider of estate administration, to deliver an estate administration service. Kings Court Trust is one of the leading specialist estate administration service providers in the UK and, like us, they place their clients at the very heart of everything they do.

For more information, please feel free to Contact Us