This website uses cookies to ensure you get the best experience on our website. By continuing to use this site you are consenting to our use of them. For full details please read our Privacy Policy
Menu
With increasing longevity the challenge for many clients is balancing their own future financial requirements against the desire to pass assets to your family. Without careful planning there is a risk that HMRC could be the biggest single beneficiary of your estate when you die.
We work extensively with clients to provide a personalised legacy strategy which is mindful to your concerns whilst using some of the various exemptions available to meet your succession objectives.
At Claritus Wealth, we spend a lot of time understanding the finances which will make up your desired lifestyle, throughout the whole of both your working and non-working life. This is used to build a living plan to enable you to reach a point when you can stop working and/or have the means to stop working.
We would be delighted to help you start on your financial planning journey. Why not get in touch with us and arrange an intial chat?
Would you want the business to continue flourishing whilst also ensuring your family is financially protected?
Business Succession
If you own all or part of a business, and don’t have a Will or succession plan, your shares could be sold, the business could be broken up or it could fall apart because of poor management. This could also leave your family unprotected. If you do not make a valid will, anything you own will be distributed in accordance with the intestacy rules. If no beneficiary can be found, your assets will go to the Treasury.
Is that where you want your business to end up?
Shareholders
As a shareholder your focus is on working with your fellow shareholders to make your business successful. If you were to die, would your beneficiaries share the same goals for the business? Your fellow shareholders may have to work with partners who have little or no interest in the business and your beneficiaries will own shares with no ready buyers.
What can you do?
Claritus Wealth work with business owners to identify your requirements and discuss potential solutions that will provide your fellow shareholders with the means to purchase your shares whilst allowing your beneficiaries to realise the market value of your shareholding as a result.
We would be delighted to help you start on your financial planning journey. Why not get in touch with us and arrange an intial chat?
If, like most people you have experienced a sequence of life events since preparing your original Will, such as loss or gain of new partners and/or children, then a serious overhaul of your existing arrangement is overdue to better reflect how you wish your estate to be distributed to your loved ones in the event of your death.
In addition to updating your Will, we can work with you to appraise and if necessary re-arrange your various assets, some (such as pensions) have particularly valuable succession properties which need to be handled carefully. The overall aim is to ensure that your arrangements are more in tune with your current thinking whilst also including flexibility to implement future changes with your changing circumstances.
We would be delighted to help you start on your financial planning journey. Why not get in touch with us and arrange an intial chat?
Once you have decided to transfer wealth between generations, there are other key issues to consider, such as:
This is why the means by which you make these transfers of wealth are so crucial in dictating what happens to family wealth in the above difficult scenarios.
At Claritus Wealth we will sit down with you and carefully work out the various connotations and devise a strategy in keeping with your objectives and look to put controls in place to counter and limit the above problem situations arising.
In addition to updating your Will, we can work with you to appraise and if necessary re-arrange your various assets, some (such as pensions) have particularly valuable succession properties which need to be handled carefully. The overall aim is to ensure that your arrangements are more in tune with your current thinking whilst also including flexibility to implement future changes with your changing circumstances.
We would be delighted to help you start on your financial planning journey. Why not get in touch with us and arrange an intial chat?
This website uses cookies to ensure you get the best experience on our website. By continuing to use this site you are consenting to our use of them. For full details please read our Privacy Policy