When it comes to financial planning, one crucial aspect often overlooked is making a Will. Even if you're uncertain about who should inherit your assets, creating a Will stands as a pivotal step in your financial journey.
At Lionbridge Wealth Management, we understand the significance of this decision and offer personalised guidance to ensure your legacy reflects your values and wishes.
Why Make a Will with Lionbridge Wealth Management: If you're uncertain about the beneficiaries of your estate or wish to exclude certain individuals, our financial advisers can help you navigate these complex decisions. Making a Will ensures that your assets are distributed according to your desires, potentially making a lasting positive impact on the lives of your loved ones.
Personalised Conversations with Your Financial Adviser: At Lionbridge Wealth Management, we recognize that conversations about estate planning can be emotional. Our financial advisers build lasting relationships with the families they serve, understanding your unique circumstances and ensuring that your financial decisions align with your family's needs and goals.
Regular Will Reviews: Making a Will is not a one-time event; it's an ongoing process that should be reviewed regularly, especially when there are changes in your family's situation. Lionbridge Wealth Management assists you in adapting your Will to accommodate new family members, relationships, or any other relevant changes.
Addressing Complex Family Dynamics: In today's diverse society with blended families, civil partnerships, and second marriages, making a Will is rarely straightforward. Our experts, including Sarah Murphy, Chair of The Law Society’s Private Client Committee, answer common questions to address complex family situations and provide tailored solutions.
Addressing Concerns About Beneficiaries:
Indecision on Beneficiaries: Your Will isn't set in stone. Lionbridge Wealth Management can guide you in incorporating a discretionary trust, allowing appointed trustees to decide on asset distribution based on your wishes outlined in a letter of wishes.
Young or Irresponsible Beneficiaries: If you feel beneficiaries are too young or not ready for a lump sum, our advisers can help you set up a trust, ensuring responsible management and distribution of funds at a specified age.
Vulnerable Beneficiaries: For beneficiaries with long-term conditions, Lionbridge Wealth Management can assist in establishing a discretionary or vulnerable person’s trust, providing tax-efficient solutions for their lifelong care.
Excluding Someone from Your Will: While you have the freedom to exclude individuals, our advisers emphasize the importance of legal advice to prevent potential claims against your estate.
Contingency Planning for Changing Circumstances: Considering the possibility that beneficiaries might predecease you, Lionbridge Wealth Management helps you develop contingency plans, ensuring your estate goes to your intended recipients even if your initial beneficiaries are no longer alive.
Leaving a Legacy Beyond Descendants: If you don't have descendants, Lionbridge Wealth Management highlights the option to leave your legacy to anyone or any organization. Charitable contributions not only align with your values but can also have tax benefits, potentially reducing Inheritance Tax rates.
Ensuring the Well-being of Pets: While you can't directly leave money to a pet, Lionbridge Wealth Management assists in structuring your Will to ensure a responsible caretaker is financially supported for looking after your beloved companion.
At Lionbridge Wealth Management, we recognise that money is a means to an end – a tool to shape a meaningful legacy. Crafting your financial plan, including your Will, is a deeply personal and ongoing process. Our team is here to offer expert guidance, ensuring your legacy reflects your values and stands as the best investment for the future.
Contact your financial adviser today, especially if your situation isn’t straightforward, and let us help you shape a legacy that lasts.
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