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Building and protecting your wealth

Important Life Admin For Lockdown – from Wills to Tax and Money Saving Solutions

There’s no doubt about it – lockdown has been tough. Filling your downtime might be a little harder, so let’s do something productive! Here are a few things you can do to ensure your finances are in order.

This does not constitute advice and advice should be sought in all instances before acting on it. The Financial Conduct Authority does not regulate tax advice. 

Prepare for the future

Wills: It’s inevitable to think about all the possible outcomes while working on the front lines during the pandemic. The best thing you can do to put your mind at ease is to prepare for all eventualities. It’s not exactly an uplifting activity, but make sure you have an updated will so you can ensure the money and assets you’ve worked hard to acquire go where you want them to after you pass.

Power of Attorney: This is another thing to consider for later on in life. If you can no longer make decisions for yourself, you’ll want someone you trust to be able to do so for you. Don’t leave anything to chance, choose an individual who has your best interests in mind.

Financial planning: Now is also a great time to review your wealth protection and preservation plan. It’s getting increasingly difficult to secure or update coverage as so many individuals are looking to get policies, so it’s crucial to act as soon as possible.

Prepare your taxes

Even though the government has provided extra time to make your payment on account due to the coronavirus outbreak, there’s no reason to put off preparing your self-assessment. You still need to submit your returns on time, so if you have the time to get it done, do it now.

Money-saving ideas

You know all those bills and auto-payments you see come through every month and think “I’m sure I could save money“? Well now is the time to investigate ways to save money! Check your utilities, subscription services, grocery bills, etc. to see where you can cut back.

Portfolio review

Mortgages: With a rock-bottom base rate, it’s a great time to review your mortgage to see if you could benefit from a new deal. Whether you’re in the market for a new home or remortgaging, you could find huge savings.

And while you’re at it, now’s the perfect time to schedule a portfolio review with your financial adviser.

You might find your attitude toward risk has changed or maybe you’re ready to be more aggressive with your investments.

We’re here to help and available when you need us. Don’t hesitate to reach out to cross some of these to-do items off your list.

Want to plan for your future?
Investments | Financial Planning | Retirement | Save Tax | Protection |

Dental & Medical Financial Services have been helping doctors and dentists to build and protect their wealth, whilst saving tax for over 25 years.
Call Darren to discuss your options.

Tel: 01403 780 770


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