As we reflect on the joy of spending quality time with loved ones during the festive season, it's an opportune moment to consider what we want for their future and how we can grow and safeguard our wealth for our children and grandchildren in the years to come.
Crafting a tailored Financial Plan around your unique financial situation, we guide you in laying the groundwork for a tax-efficient legacy that aligns with your every wish. To embark on this journey, let’s delve into three essential questions:
What do you want to pass on?
Comprehensive financial planning is essential to ensure all aspects of your financial house are in order, including inheritance tax planning, ensuring you have a Will that accurately reflects your wishes and putting protection in place for unforeseen eventualities. This long-term approach considers uncertainties like the current cost of living challenges, impacting retirement incomes and the future value of savings.
How do you want to do it?
Whether your wealth is in bank accounts, properties, shares, businesses, or other assets, early planning allows for the right structures to be in place. Options include direct gifts, trusts, family investment companies, and more, each with distinct tax and planning implications.
How do you prepare your loved ones for receiving a large sum of money?
Initiating open conversations within your family about values, motivations, and the responsible management of wealth is crucial. Acting as a guide and coach, your Financial Planner can facilitate these discussions, helping address concerns and explain complex arrangements.
We have helped many clients manage the ‘Great Wealth Transfer’ over the years, and it’s an area in which we have lots of experience.
Contact us today for a complimentary conversation to find out more about how we can help you get your financial house in order all while living a great life in the now.