Worldwide Financial Planning

When inheritance tax is due, it must be paid within six months of death. After that, interest is charged. If that sounds draconian, and not overly ‘nice’, given that you are dealing with many emotionally charged issues after a death, you would be right. But it’s how it is.

In the UK, the lack of economic growth and some cooling of the jobs market, particularly lower wage inflation, helps the case for a Bank of England rate cut. At the same time, the Office for Budget Responsibility put out a gloomy forecast for government debt.

Life is unpredictable, but two key legal tools - Lasting Power of Attorney (LPA) and a Will, can give you control and peace of mind, ensuring your wishes are respected while protecting your loved ones from unnecessary stress.

The FOMC meeting came off the back of a decent CPI print. May’s inflation data came in softer than consensus expectations with headline CPI decelerating slightly to 3.3% versus 3.4% in April.

In monthly terms, CPI was 0.3% (consensus: 0.1%), compared to 0.6% in March. Similarly, core CPI inflation (ex-energy, food, alcohol and tobacco) came in at 3.9% (consensus: 3.6%) vs 4.2% in March.

An end to the interest rate hiking cycle would be welcomed by US consumers, who have seen new US mortgage rates spend four weeks above 7% for just the third time this century. Despite this, new home loan applications increased by 2.3% in the week ending August 25.