Wealth Preservation Plan
Once created wealth needs to be preserved whilst ensuring that you have sufficient income to fund your goals. The Wealth Preservation phase of life will usually begin when a person retires and so loses the opportunity to continue to add to their wealth through earnings.
The Wealth Preservation Plan will demonstrate how assets and investments can be changed to provide an income whilst still maintaining the capital and how to alleviate the burden of inheritance tax when passing on wealth to children and grandchildren. Private Wealth Management can help by employing a variety of tools to help significantly reduce or eliminate inheritance tax including philanthropic gifts and charitable giving if desired.
Typical Client – Identified as 70 plus either married or recently widowed and wants to ensure that the investments, pension income and cash that they have is sufficient to ensure that they can continue to life in the manner they have become accustomed.
These clients tend to be very risk averse and where possible would like the capital they have to be passed to their beneficiaries with the least amount of inheritance tax payable.
The clients tend not to want complicated solutions and are normally very close to a family solicitor who oversees their affairs.