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- Financial planning with a terminal diagnosis
When Colin faced a terminal illness, his greatest worry was leaving his daughter without financial support.
With a terminal illness, Colin came to us for urgent advice on his Defined Benefit Pension. He wanted to make sure his daughter would be financially supported after he was gone and without quick action, she would have inherited nothing.
Colin needed clear, practical guidance on his pension options. He wanted a solution that would provide financial security for his daughter, be implemented quickly given his health, and give him certainty and peace of mind during an incredibly stressful, time-sensitive situation.
We acted quickly and with compassion. Within just three days of his initial enquiry, one of our advisers met Colin in person to fully understand his circumstances and priorities.
From there, our team swiftly prepared tailored advice and completed all the necessary paperwork, offering a clear solution at a fair fixed fee of £7,500, far lower than a competitor’s 5% (£20,000) charge.
Within a week, we secured Colin’s approval and recommended a cash option in a self-invested personal pension (SIPP) - an option he hadn’t even known was available, ensuring his daughter would be protected financially.
Thanks to our quick and compassionate support, Colin could focus on what mattered most; spending precious time with his daughter while knowing her financial future was secure.
Our personalised advice gave him peace of mind during an incredibly difficult period and ensured she would be cared for after he was gone. This case shows how thoughtful, timely financial guidance can make a profound, lasting difference for families when they need it most.
Client names have been changed to protect their identity.
This case study is intended as illustrative purposes only, it does not constitute individual advice and should not be used to inform financial decisions.
They are based upon our understanding (at the time of advice) of current law, HM Revenue and Custom's practice, tax rates and exemptions, which are subject to change.
A pension is a long-term investment not normally accessible until age 55 (57 from April 2028 unless the plan has a protected pension age). The value of your investments (and any income from them) can go down as well as up which would have an impact on the level of pension benefits available.
