A message from John Coleman:
The next meeting of the Family Finances Group (FFG) will be on Thursday, 21 October, at Weybourne House (GU2 4DR).
As usual, we gather from 9.45am for tea, coffee and biscuits, prior to starting the meeting at 10.00am, which normally ends by noon.
The Guest Speaker on this occasion will be Danny Smith of Tilney Financial Planning in Guildford and the theme of his presentation will be “Inter-generational Wealth Management, IHT planning and the impact of the global pandemic on family wealth”.
With the Government desperately needing to strengthen its finances, it seems very unlikely that there will be any significant relaxation of the Inheritance Tax burden in the foreseeable future. Consequently, any family with a reasonably sized house in the Guildford area could potentially be liable to future Inheritance Tax – or, perhaps more accurately, the next generations and any non-charity beneficiaries outside the marriage. Just consider that 40% IHT on only two successive generations could reduce any family wealth above the “Nil Rate Band” to around 36% of what it would be without inheritance tax. (ie you could lose 64% above the NRB to IHT within 2 generations!) Hence, the theme of our next FFG meeting should be of interest to many Probus members.
Probus and FFG members are welcome to bring visitors to our FFG meetings and any guests will be among friendly like minded people; many of whom are facing the same issues in later life.
Finally, we’re pleased to announce that there will be no charge for attending FFG meetings for the remainder of this year – so why not give it a try?
On behalf of the FFG Steering Group, we hope to see you soon,
John.