Over 10 years in the UK, an average of over £82 million of family wealth will be transferred every day. Not all this money will end up where it was intended to. If you’re transferring family wealth or anticipating receiving family wealth, you should be interested in this series of podcasts.
For those that don’t know, we are independent financial advisors working with miles Davis and Ginger
So why would you want to listen to yet another podcast?
As you know, we have a lot of clients who are either looking to pass accumulated wealth to their families or are expecting to receive an inheritance. But what’s often overlooked is what could happen to disrupt these intentions?
Below are 6 ways that could interfere with these arrangements.
• Unexpected taxation, both capital gains and inheritance taxes
• Too poorly drafted, or the complete absence of wills and powers of attorney
• Family wealth being redirected to pay for long-term care
• For where family business wealth is involved. Poor successional planning and inadequate, corporate governance,
• Five lack of full understanding by those transferring or expecting to receive family wealth. And we hope to help on this
• Six indecision to act as auctions, not fully appreciated leading to excessive taxation.
And there are many others too. But list to Episode 1 for how to make the most of your money.