In an increasingly litigious society, awards are becoming more commonplace and are growing in value.

Some of the highest value awards tend to involve medical negligence and by the nature of the circumstances giving rise to such awards, claimants may need some form of long term care.

Using a “PIT “ can bring many benefits.

Besides the normal protections using a Trust can add to a situation, one of the most compelling features of a “PIT” is the disregard from means testing by the Benefits Agency.

This means that by placing the compensation sum into such a trust, eligibility for income support, housing benefit and ancillary benefits can be preserved. This can have a massive impact on an individual’s finances over time.

Trusts can be complex and expensive to set up and run but at the same time, a PIT can bring significant benefits .

Every claimant’s requirements and expectations will be unique to their situation but it is clear that in most personal injury cases where compensation is likely to be sizeable, thought should be given to the validity of using a PIT.

Advice from suitably qualified legal and financial advisers should be sought ideally at the negotiation stage of the award process, but in any event at least before the award is settled.

The topic for this webcast was Divorce & Your Financial Planning.

Angela is a Chartered Financial Planner and a Certified Financial Planner (CFP) professional at Informed Choice. She is a Fellow of the Personal Finance Society and an Associate of the Institute of Financial Planning.

You can watch a recording of this webcast at www.brighttalk.com/webcast/22873.

Please register now for our next webcast on 18th November 2010, where Informed Choice chief executive Nick Bamford will be talking about the Future of Your Financial Planner. You can register here.

CGT rates increased in the June Budget from a flat 18% of gains to either 18% or 28% depending on what tax rate an individual is liable for on income .

The tax system is complex and confusing but there are many planning strategies that can be employed to reduce CGT liabilities and ensure better use of the capital gains tax allowances available.

These include selling assets and buying them back within an ISA “bed and ISA ” or even “bed and spouse”; a tactic whereby assets are sold and bought back immediately by a spouse.

Clearly a “buy and hold” strategy can be a costly exercise when assets are eventually realised if gains have not been managed efficiently along the way.

Good professional advice can add serious value in reduced tax alone but can also help you to navigate the complexities of the UK tax system.

Is it time to review your investments?

Angela Murfitt | Profile | Other Posts

Angela is a Chartered Financial Planner providing independent financial advice to clients in the Staffordshire, South Cheshire and surrounding areas.

Len Armstrong, Angela Murfitt, Ian Lovelace and Simon Hewitt are joining the Informed Choice team, taking our total number of Financial Planners up to ten.

We are delighted to welcome Len, Angela, Ian and Simon to the team.

As a growing business we are attracting a lot of interest from professional advisers who want to be a part of an RDR-ready business with robust systems, a strong consumer brand and the right resources to support their own personal development goals.

By the end of this year we will have doubled the number of Financial Planners at Informed Choice from seven to fourteen.

Our Financial Planners work in a team structure and follow a robust set of documented processes, to ensure the delivery of excellent advice and service to clients. This also means they can spend their time providing service to existing clients and acquiring new clients.

Len Armstrong joined Informed Choice from local IFA firm Charlwood Leigh. He has over twenty years experience as an IFA, holds the Diploma in Financial Planning and is currently studying to become a Chartered Financial Planner.

Angela Murfitt is joining Informed Choice after running her own IFA business in Stoke on Trent. Angela is a Chartered Financial Planner and Certified Financial Planner (CFP) professional.

Ian Lovelace is joining Informed Choice from Foster Denovo where he worked with private clients. Ian is currently completing the new IFS Level 4 qualification.

Simon Hewitt is new to retail financial services, after working as an analyst and trader in the commodities industry for over a decade. He recently acquired his CeFA qualification and is now studying to complete the Diploma. Simon will initially be appointed as an Associate Planner, before being appointed as a Financial Planner in the summer.

You can view our news release at http://www.icl-ifa.co.uk/resources/media-centre/informed-choice-recruits-financial-planners/.

Do contact us if you have any questions.