Being financially comfortable can be difficult, albeit it is a nice problem to have!
Not only may you have the usual taxation problems, in that paying too much tax will eat away at your assets, but also the problem of passing the family wealth onto the next generation.
With respect to self-made entrepreneurs we often see the additional problem that the next generation doesn’t necessarily understand how to interact with their parents’ wealth and often miss investment opportunities and make mistakes.
We coach people into their inherited wealth, so they understand the importance of budgeting, and they understand why their parents made the decisions they did.
Through our services for charities, we can also support our clients in their philanthropic desires, to support them to support the communities they cherish.
We take a strategic, long-term view of our client’s assets, creating a comprehensive understanding of these assets. From this we can create a project plan and execute tactically to ensure that maximum value is extracted from the estate.
Going back to our values, we know why this plan works and not just that it should work, this means we can improve the plan over time.
In constructing the project plan, we encourage joint working with the family solicitors and accountants to ensure that the plan is entirely watertight, and that no duplication occurs.