St. James’s Place Has a Plan

Our speakers on Wednesday 31 May 2017 were Billy Mustafa (left) and David Morris (right) both from St James’s Place Wealth Management – an organisation that has strong links with Rotary in the London area.

Before they spoke however, we heard that our member John C is back in hospital, and being put through his paces again on the treadmill.  We all wish him a speedy recovery and look forward to seeing him soon.  Adrienne, widow of our former member Arnold, was also present at the meeting, as was Brian Durbin.

Our speakers then tackled the subject of Inheritance Tax Planning by way of a PowerPoint presentation.  Billy Mustafa is a St James’s Place Partner, and David Morris is one of 1,500 employees at St James’s Place.  Both wisely chose not to teach Inheritance Tax Planning to the Club, but instead raised a number of headings where the input of an expert could prove beneficial both to the owner and to the inheritor.  Now that assets cannot be realised or disposed of until the inheritance tax has been paid, there was significant interest in the instruments that allow for the inheritors to receive funds that will provide for the tax that will have to be paid in order to inherit. Trusts, annual allowances, intestacy, front loading of giving, Nil Rate Bands and the role of the Society of Later Living Advisors (SOLLA) were all introduced.

This is clearly a complex field where clear advice can be hard to find, but St James’s Place Wealth Management appears to merit a place on any shortlist being considered by members. Well done Billy and David for tackling such a difficult subject in such an approachable way.

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