Having a financial plan in place for your future is smart. Succession planning and asset preservation are particularly important if you want to pass your wealth onto your children in later life. Many people opt for a trust fund: a legal arrangement where you give your assets to someone who can look after them for
Making money is one thing, but protecting it is another – this is particularly true if you want to pass your assets onto your children. Any reputable bank, solicitor or lawyer will tell you that individuals who have amassed some form of wealth need to protect their assets, especially those with a high net worth.
Establishing a trust or a foundation is a useful way to manage your wealth, protect your assets and take control of your succession planning. However, they often come with an element of confusion, leading to the same questions being asked. So, what is a trust? And how does it differ from a foundation? What are
Any parent will tell you that the moment you hold your little one in your arms, your priorities change. Having a baby is one of life’s most beautiful and joyous occasions, but it is also one of the most life-changing events with a substantial price-tag attached. Research shows that your little bundle of joy will
The stock market is beginning to show signs of life as measures introduced to help businesses amid the pandemic begin to take hold, but much is still uncertain. There’s no doubt that the pandemic has affected most people’s finances. From the Bank of England’s decision to reduce its rates, to the potential loss of earnings
The pandemic is having an impact on divorce rates, with lockdown causing a spike in the number of couples filing for divorce. According to recent figures from Co-op Legal Services, there has been a 42% rise in divorce inquiries between 23 March and mid-May, compared with the same period in 2019. Based on the latest
Rising house prices, poor wage growth and the increasing cost of education means younger generations face an uphill battle when it comes to their finances. Research shows that millennials are set to receive more money from relatives than ever before, and financial help from grandparents can make a real difference to younger people’s lives. “Grandparents
Retirement planning is one of the most important financial goals, and the stakes couldn’t be higher. For a successful and secure retirement, Granville Turner, Director at Company Formation Specialists, Turner Little, shares his five retirement planning mistakes to avoid: Don’t underestimate the value of a clear plan: Whilst retirement doesn’t necessarily mean stopping work completely,
Many Brits have found that lockdown has been beneficial for their money, having cut back on personal spending and managing to put away some extra cash. According to eToro, Brits with unspent discretionary income are set to accumulate £75.5bn in savings in just three months. Restrictions on movement have meant that despite the financial hardships
Gold has long been viewed as a safe haven asset, a tried and tested asset, a secure place for investors to put their money when other investments are volatile and a way of hedging against falls in stocks or currencies. As concerns continue to grow over the global economy, with several countries experiencing and expecting subsequent waves of the pandemic, the price of
