94 year old - review

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  • InvestInPoker
    InvestInPoker Posts: 1,356 Forumite
    edited 24 September 2014 at 12:32AM
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    ggb1979 wrote: »
    I'd still go with my suggestion

    Yep, if I get to 94 and still have all my financial marbles intact like the OP's father does I will tell anyone who trys to "suggest" anything to me quite clearly where they can stick their advice :D

    Saying that, the OP and OP's father are in a situation which is a little different than that, where attitudes are being changed. Other people in this thread will give better advice than me.
  • Hooloovoo
    Hooloovoo Posts: 1,281 Forumite
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    ggb1979 wrote: »
    I say he should blow it all on whatever takes his fancy

    ^^ This.

    Screw the kids inheritance. They will get the house in the end anyway, that's more than enough.

    The very best thing to switch his funds to is enjoying his last few years.
  • RickyC_IFSWP
    RickyC_IFSWP Posts: 203 Forumite
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    As kidmugsy touched on, gilts are not looking great although short-term ones/money market funds are a possibility for consolidating the gains made over the years. If the investments are held in ISAs, then you don't need to worry about CGT.

    More of a concern should be mitigating inheritance tax if his estate exceeds the threshold (£325,000 per individual). And of course, ensure a valid Will is in place a long with a Lasting Power of Attorney.
    "If you will change, everything will change for you." - Jim Rohn

    I simply use these forums to share my knowledge, reinforce my learning and experience as an IFA. Please remember, if your circumstances are complex, speak with your local IFA from Unbiased or VouchedFor directories for regulated financial advice.
  • Vortigern
    Vortigern Posts: 3,245 Forumite
    First Anniversary Photogenic Name Dropper First Post
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    G_M wrote: »
    He'd qualify for a telegram from the queen (does she still send them to 100 year olds?)

    Not a telegram as such, but HM will send him a card if you ask her nicely.

    https://www.gov.uk/get-birthday-anniversary-message-from-queen
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