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The Derbeian Winter 2019/20 Edition

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The Winter 2019/20 Edition of The Derbeian Magazine, a magazine about all things Derby, past and present that also doubles up as a useful, local business directory

THE

THE Derbeian | Winter 2019/20 NEW LIFE FOR OLD KITCHENS! JUST REPLACE THE DOORS AND WORKTOPS To book a home visit call 01332 290600 or visit the Derby Showroom: 20 The Strand, Derby, DE1 1BE www.dreamdoors.co.uk 8 | Dream Doors

Winter 2019/20 | THE Derbeian ADVERTISING FEATURE HOW TO TAKE CARE OF YOURSELF AND YOUR LOVED ONES IN LATER LIFE More and more people are facing a financial dilemma as they grow older. Many people would like to make monetary gifts to provide immediate benefit to loved ones as soon as possible. But there is a growing fear that money could run out, leaving them unable to maintain a standard of living later in life, especially if long-term care is required. The cost of care can vary considerably across the country, and will be dependent upon the type of care and level of support you will require. This will often be determined through a care needs assessment. However, with the average annual cost of residential care around £31,200, rising to over £43,732 for nursing care (LaingBuisson, Care of Older People UK Market Report, December 2017), the spectre of having to sell a property to meet care costs looms large for many. Even if people choose to remain in their own homes and receive care there, the cost is significant. And, on top of all this, there is the threat of Inheritance Tax (IHT), which can have a serious impact on people’s estates. IHT used to be the preserve of the very wealthy, but escalating property values in the last ten years have put paid to that, with more and more people affected every year. In April 2019, the residence nil-rate band rose to £150,000, for those who qualify, and is due to increase to £175,000 in 2020. Coupled with the fact that the first £325,000 of an individual’s estate is exempt from IHT, this will mean that, subject to certain conditions, a married couple and civil partners could have a combined tax-free estate worth £950,000, a figure that will rise to the million-pound mark in 2020/21. However, there are other financial implications to consider, particularly if you are a widow, widower or divorcee. Individuals often do not take the time to understand the impact that care fees or IHT could have on their wealth. Many people are confused by IHT policy and many mistakenly believe they are unlikely to be affected by this or the need for care in later life. This lack of preparation could have serious consequences later in life. The good news is that there are solutions to help safeguard your wealth in later life. Understanding what you can gift to love ones now, or place in trust for later, can give you access to the income you need today and also help to mitigate any future exposure. Something as simple as ensuring your Will is up to date could reduce the risk of your estate being severely reduced through IHT and the high cost of long-term care. PEOPLE SHOULD CONSIDER THE BIGGER PICTURE WHEN PLANNING FOR LATER LIFE. More detailed planning advice will always need to consider your personal circumstances. The best action anyone concerned about these issues can take is to seek professional advice and establish how you can protect your hard-earned assets. For further information, or to arrange a no obligation meeting, contact White Peak Wealth Management on the details below. 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 involves referral to a service that is separate and distinct to those offered by St. James’s Place. Wills and trusts are not regulated by the Financial Conduct Authority. WHITE PEAK WEALTH MANAGEMENT LTD Partner Practice of St. James’s Place Wealth Management Tel: 01773 828768 | Email: whitepeak@sjpp.co.uk | Web: www.whitepeakwm.co.uk 30A Town Street, Duffield, Derbyshire, DE56 4EH Simon Dixon and Simon Annable Directors of White Peak Wealth Management Between us, we have over 40 years of experience in the wealth management industry. We met in 2001 when we were both focused on providing mortgage and protection advice. We built up a good professional relationship over the years and in 2009 we decided to join forces and work together with the shared common goal of striving to provide sound financial advice to individuals and business owners. We specialise in providing face to face expert advice in investment and retirement planning at our offices in Duffield or, if you prefer, at your home or workplace. We are committed to helping each of our clients realise their financial aspirations by building a long term relationship based on trust and an in-depth understanding of each client’s unique financial circumstances. It is no coincidence that most of our new clients come to us as a personal recommendation by existing clients. For further information, or to arrange a no obligation meeting, please phone us on 01773 828768 or email at whitepeak@sjpp.co.uk. White Peak Wealth Management Ltd is an Appointed Representative of and represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the group’s wealth management products and services, more details of which are set out on the group’s website www.sjp.co.uk/products. The ‘St. James’s Place Partnership’ and the titles ‘Partner’ and ‘Partner Practice’ are marketing terms used to describe St. James’s Place representatives. H2SJP33506 11/19 White Peak Wealth Management Ltd | 9

Current Edition and Featured Article for The Derbeian Magazine

The Derbeian Winter 2019/20 Edition
Winter 2019/20 Featured Articles

All Past editions of The Derbeian Magazine

The Derbeian Magazine Autumn 2019 edition
The Derbeian Magazine Summer 2019 Edition
The Derbeian Magazine Spring 2019 Edition
The Derbeian Magazine Winter 2018/19 Edition
The Derbeian Magazine Autumn 2018 edition
The Derbeian Magazine Summer 2018
The Derbeian Magazine Spring 2018 Edition
The Derbeian Magazine Winter 2017/18 Edition
The Derbeian Magazine Autumn 2017
The Derbeian Magazine Summer 2017
The Derbeian Magazine Spring 2017 Edition
The Derbeian Magazine Winter 2016/2017
The Derbeian Magazine Summer 2016 Edition

All Past Featured Articles

Autumn Featured Articles 2019
Summer 2019 Featured Articles
Spring 2019 Featured Articles
Winter 2018/19 Featured Articles
Autumn 2018 Featured Articles
Featured article DCFC, A grand history 1925-1955 and 1960 Derby
Featured Article Derby County Football Club A Grand History, 1884 to 1924 and 1950's Derby
On The Buses
Rolls Royce in the 1980's Featured Article
Rolls Royce 70's
1960'S DERBY, YOUR DERBY AND FABULOUS FALSTAFF FLIES THE THE FLAG FOR NORMANTON
SIX OF THE BEST AROUND DERBY
Spring 2017 Featured Article Rolls Royce 1933 - 1960

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