Keeping wealth in the family

Andrew’s and Lisa’s story

Andrew and Lisa were referred to us as they were dissatisfied with a previous adviser.  They had some investments to be reviewed, and we consolidated them to make it easier for Andrew and Lisa to keep track of everything.

We focused on estate planning needs and with our clients being retired, we had a plan which was carefully monitored.

Andrew’s and Lisa’s situation changed when they very unexpectedly received a significant inheritance.  This came as a huge surprise to them and meant a complete change in their circumstances.

Case Studies

The outcome

As their trusted adviser, they initially chatted things over with us and quickly we established that they did not actually need the full amount of inheritance.  We worked with their solicitor to complete a Deed of Variation, which meant diverting the bulk of the inheritance to their children and grandchildren, resulting in the lump sum never entering our clients’ estates.

This meant that Andrew and Lisa were able to gift money to their families at a time when they needed it, rather than on death.  It also prevented a rather large inheritance tax problem – again resulting in Andrew and Lisa paying no tax on death and helping to keep the wealth within their family.

Finally, as Andrew and Lisa grow older, they are spending a lot less money.  Rather than have their bank balances rise, again creating a potential tax problem on death, we have worked with them to recommend regular tax-efficient gifts to their family, whilst they are alive.

Andrew, Lisa and their children are all delighted to be part of the process with the primary goal of keeping the money in the family.

The value of investments may go down as well as up and you may get back less than you invest.  The Financial Conduct Authority does not regulate some aspects of Cashflow, Trust, Tax and Estate Planning.