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Model 1st Death - Now Available

As part of our continuous development at FinCalc, we are pleased to confirm you can now Model 1st death within the Cashflow. Model death with quick and simple inputs, select the Client and choose what age/date or event that death would occur.  

Our smart death scenario includes the following features:

Lifetime Allowance (LTA) calculations - On death any applicable Benefit Crystallisation Events (BCE 5c and BCE 7) are calculated in the Cashflow, and any applicable charges deducted automatically. All details are summarised within the LTA Analysis.

Death lump sum benefits - New inputs support death benefits on the Pensions, along with employment related Death in Service and any standalone Life Assurance policies. Any remaining pension guarantee periods will also be automatically calculated and paid as a lump sum

Full spouse’s pension calculations - Simply enter the spouse’s percentage on Annuities or Defined Benefit pensions and the cashflow will revalue and calculate these accordingly.

DC Pension Pots - The cashflow will automatically assign any DC pension pots to the surviving client, setup as a FAD drawdown policy and calculate any LTA charges due on death. For death before age 75, the new DC plan will pay any benefits tax free to the dependant and not be subject to further LTA charges.

Reduction to expenses - An input on the expenses screen enables you to specify the value of the expense after 1st death, with the system defaulting to reducing joint non-essential expenses by 50%.

Automatically start and stop items - FinCalc does all the hard work for you, by stopping applicable incomes, expenses, changing owners on joint items as well as starting spouse’s pensions and paying out death benefits.

Full Income Tax - On death, any dividend income, bank interest and taxable incomes passed to the other Client will all be included in the new owner’s taxable income and be taxed at their marginal rate.

Dispose of Assets on death - Ability to select to dispose of specific assets on death. Building the estate planning within the cashflow, along with the ability to illustrate the full impact of death at different ages with one input change.

Graphical output - Modelling death at different ages with an easy-to-read line to illustrate where this lies on the chart. This allows a quick comparison to see the effect on the remaining client and where possible advice needs could be raised.

Detailed Breakdown available - Detailed breakdown of all figures is available, showing in full detail all lump sums and LTA charges, as well as the incomes and expenses which have continued (or started) upon death.

Comprehensive report options - Choose to include the death scenarios within your client friendly full report.


Please contact us for further information.