Whilst you are all enjoying the sun, sand and sea this summer holiday add succession planning to your list
Please be aware the below blog is older than 12 months, therefore the information may not be relevant or up to date.
Ok, maybe not the catchiest of titles, but hopefully, you get where I’m going with this!
The summer holiday is a great time to consider succession planning because:
- You have more time. With the kids out of school and work slowing down, you have more time to sit down and work on your financial plan
- You're less stressed (hopefully). With the sun shining (again, hopefully) everyone is just that little bit happier. The summer holiday is a time to relax and de-stress, which can help you make better financial decisions
- You’re all together. Summertime is a great time to get the whole family together for BBQs, group holidays and family fun days together.
As I’ve said in other blogs, financial planning across multiple generations is important to the entire family. It allows the older generation to pass down some of their wealth in a tax-efficient manner when it is needed, helping the whole family reach their financial goals sooner. And, perhaps more importantly it can forge stronger bonds throughout the family.
Of course, to make sure succession planning works for everyone, it’s important to start as early as possible and to take advice from a financial adviser who will regularly review your plans to help keep you all on track.
So, whilst you are all enjoying the sun, sand and sea this summer holiday add succession planning to your list!
By Daren Wallbank
Approver Quilter Financial Services Limited & Quilter Mortgage Planning Limited. 13/07/2023
Succession Planning is not regulated by the Financial Conduct Authority.
