At a glance...
In the complex world of financial planning, discussing Inheritance Tax (IHT) with clients can be challenging. Timeline's IHT Planner is meticulously designed to facilitate these conversations, focusing on one aspect at a time to avoid overwhelming clients.
Focused IHT Discussions
Tailored for step-by-step IHT planning conversations with your clients.
Estate Today Analysis
Includes liquid and non-liquid assets and debts, highlighting pensions outside the estate.
IHT Allowances
Considers Nil-Rate Band (NRB), Residence Nil-Rate Band (RNRB), single and couple rates, and estate tapering thresholds.
Estate Distribution
Emphasises wills, distribution, and charitable donation benefits.
Gifting Strategy
Incorporates PET, CLT, wedding gifts, annual allowances, and the 7-year rule.
Visual Results
Offers IHT evolution graphs and detailed annual breakdowns.
Cashflow Modelling Integration
Ensures balanced IHT planning aligned with financial sustainability.
Build a clear picture of your client's estate
Set the scene for IHT planning by establishing what's in your clients estate and the tax allowances available.
It's quick and easy to add clients' liquid assets, including ISA, GIA etc, and illiquid assets, like property, as well as their debt and mortgages.
Once this is all in one place, you add their pension(s) and apply the relevant tax allowances, using our handy guide for reference.
Now you can see the full estate and pensions, you can work your magic with IHT optimisation.
Opportunities for IHT Mitigation
Through Estate Distribution and Gifting you can demonstrate various ways to optimise your clients' IHT liabilities.
Easily add a list of inheritors - with the option for charitable giving. Then add the gifts your client would like to make and the year they will be made. You can set as many gifts as you wish to see how all this can positively impact your clients' IHT liabilities.
IHT Optimisation Dashboard
With powerful visualisations that clearly demonstrate the value of your advice, the results dashboard is your most powerful ally.
By providing a visual representation of how different approaches affect IHT liabilities, this dashboard empowers advisers to have more meaningful conversations with clients, ultimately aiding in making informed decisions for effective estate planning.
Your clients will love the clarity and reassurance you can provide, as they see your advice translate into pounds saved.
IHT Evolution Chart
The IHT Evolution Chart in Timeline Planning is an invaluable tool for financial advisers, offering a clear and interactive way to demonstrate the impact of IHT planning strategies over time.
Hovering on the chart gives a clear breakdown of the IHT to pay, the difference between the baseline and optimised scenarios, plan sustainability and the total net worth.
Detailed Breakdown
The detailed breakdown on the results dashboard offers a year-by-year breakdown for transparency and detailed discussions.
Calculating capacity for loss properly
Risk profilers typically tend to try to measure Capacity for Loss by asking questions about the stability of your income sources, but those in supposedly 'stable' jobs can one day be made redundant unexpectedly, while many self-employed people might have stable income for years.
Timeline's Risk Profiling integrates with Timeline's Financial Planner, and calculates a client's capacity for Loss based on an analysis of how their financial plan would fare across hundreds of scenarios from 120 years of history.
Calculating capacity for loss properly
Risk profilers typically tend to try to measure Capacity for Loss by asking questions about the stability of your income sources, but those in supposedly 'stable' jobs can one day be made redundant unexpectedly, while many self-employed people might have stable income for years.
Timeline's Risk Profiling integrates with Timeline's Financial Planner, and calculates a client's capacity for Loss based on an analysis of how their financial plan would fare across hundreds of scenarios from 120 years of history.