financial planning - protection
Both individuals and businesses need to consider the unexpected and protect themselves. Planning for the consequences to the family or business due to illness or death need not be particularly costly whereas a lack of planning can be disasterous. There are many different types of protection available offering a wide range of features. We will identify your needs and recommend a strategy that meets your objectives.
Our financial planning team works closely with our other professionals so that your Will conforms to the same plan as your investments and insurances. Policies can be written in trust where this is beneficial to get the best tax treatment.
Any assignment to look at these issues would begin with some very open questions. "What if you or your partner were to die?" or "what if you became too ill to work?" From the answers to those question we can review your financial needs and then widen the scope to encompass tax planning, wills, trusts etc.
In 'Gone with the Wind' Margaret Mitchell wrote "death, taxes and childbirth! there is never any convenient time for any of them". We can help you protect yourself against the inconvenient.
key risks
Some key risks - how would your family cope
Premature death of you, your spouse or business partner
Serious illness affecting your work
Sudden critical illness or accident
Another child
business
Consider protecting your business against the loss of key individuals.
Who would inherit the business? Does the business need to be sold? If A & B are in business and B dies then his spouse may want cash whereas A wants to continue the business but does not have the resources to buy the spouse's share.
international
Some key policies may become invalid when you leave the UK. Have you reviewed them?
Currency risks can be mitigated by a range of planning tools.
Have you minimised the risk of adverse tax consequences by taking proper advice?
individuals
Consider what life insurance you need. Make sure that you write your Will effectively and consider the impact of Inheritance Tax.
What critical illness cover do you need to ensure that your family do not suffer if you became ill?.