Why do we want to build wealth? Is it so we can buy plush homes, drive fast, sleek cars or sun ourselves in exotic climes? Or is actually for a far more personal reason: So that we can give our loved ones a comfortable, secure and enriched life?
For some people, filling our lives with exotic holidays, plush homes and sleek cars is a key motivation to make money; however, most of us also want to help those who we love by leaving behind a legacy that will give them the best start in lives, or enable them to continue to live out their lives with confidence and certainty.
But is just making money enough to guarantee this?
Building wealth is evidently the first step to take if you want to leave a legacy and be able to live out a comfortable and secure future. However, there are many factors that can threaten your estate, most notably Inheritance Tax, family and relationship breakdown and other third-party risks such as care fees.
Whilst none of us can predict future tax rates, family dynamics or health and care needs, there are actions that you can take now to minimise the impact that these risks could have on your personal and your family’s future financial security. But how can ensure you are able to leave a legacy should the worst happen?
When we talk about inheritance and legacies, we often hear a huge number of concerns about the levels of complexity involved in creating a suitable and sustainable estate plan. To help bring some clarity, clear-cut answers and confidence to this topic, we have teamed up with leading lawyer Jane Cowley who is a partner and family law specialist at Geldards LLP a national legal practice with offices in Derby, Nottingham , Cardiff and London.
Taking place via Zoom on Wednesday 24th November 2021, our webinar will cover the following:
Avoid hefty Inheritance Tax Charges.
Ensure that your house and capital are protected against third-party risks
How to protect your legacy in the event of relationship breakdown or relationship changes within your family.
Careful planning around your finances is one of the key steps to take now in order to protect your wealth for the benefit of your loved ones. Understanding these steps could be the difference between you leaving your family ‘a life changing sum’ and a ‘life changing lesson’.