Summer Edition 2019
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Finesse your wealth<br />
plan this summer<br />
Evaluating and and stress-testing the the cost cost of of your your lifestyle can can be be an an<br />
extremely worthwhile exercise, especially if you if you are are thinking about<br />
how how you you can can pass pass on on wealth to to children and and grandchildren.<br />
Get Get smart with with cash cash flow flow<br />
Kicking the the tyres tyres of of your your<br />
investment vehicles<br />
Painless estate planning<br />
Understanding if you if you can can<br />
While While every every family’s<br />
maintain your your desired standard When When making your your plan, plan, ask ask<br />
circumstances are are different,<br />
of of living living is vital is vital and and will will help help<br />
greatly with with your your future future<br />
investment decisions and and<br />
yourself the the following questions: we we all all want want the the transfer of of<br />
wealth from from one one generation<br />
What What liquid liquid assets do do I have I have to to the the next next to to be be as as smooth,<br />
estate estate planning.<br />
available?<br />
If my If my liquid liquid assets run run out, out,<br />
painless and and efficient as as<br />
possible. Planning well well<br />
Regular outgoings such such as as which which illiquid assets will will need need in in advance is very is very much much<br />
mortgage payments, insurance<br />
premiums, and and school fees fees<br />
are are easily easily identifiable, but but it’s it’s<br />
important nevertheless to to<br />
keep keep track track of of them. them.<br />
Keep Keep a a watchful eye eye also also<br />
to to be be realised?<br />
What What level level of of cash cash flow flow is is<br />
sustainable?<br />
Can Can I afford I afford to to gift gift capital<br />
sums sums to to loved loved ones ones without<br />
affecting my my lifestyle?<br />
Can Can I make I make regular gifts gifts to to<br />
recommended.<br />
Wealth can can be be more more than than simply<br />
financial assets. Ownership of of<br />
family family businesses, for for example,<br />
can can complicate matters. It’s It’s<br />
important to to balance the the<br />
on discretionary and and variable my my children out out of of my my excess<br />
expectations and and rights rights of of all all<br />
expenditure. Items Items such such as as<br />
income?<br />
family family members whether they they<br />
holidays, cars, cars, boats, boats, clothes<br />
and and houses can can have have a huge a huge<br />
Will Will there there be be enough income work work in the in the business or or not. not.<br />
to to maintain my my family’s living living<br />
impact on on the the state state of of your your<br />
standard when when I’m I’m gone? gone? Clear Clear communication<br />
financial position.<br />
What What is the is the likely likely value value of of my my<br />
between generations – and – and a a<br />
estate estate when when I pass I pass away?<br />
willingness to to have have potentially<br />
awkward conversations – is – is<br />
Once Once you’ve carried out out your your vital. vital. Research shows parents<br />
stress-test you’ll you’ll know know whether<br />
routinely overestimate the the<br />
your your assets are are more more than than<br />
enough to to support your your<br />
desired lifestyle, just just sufficient<br />
or or inadequate.<br />
clarity clarity and and quality of of their their<br />
communication with with their their<br />
children on on family family wealth<br />
matters.
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