The rise of blended families, where people have multiple marriages and children with different partners, means that the inheritance arena has changed considerably. From the traditional family setup to now including stepparents, stepchildren, divorced parents, and siblings with large age gaps, writing your Will just got a whole lot trickier. Many people assume that their
You might recall that we wrote an article in October last year about our Willing Wisdom campaign to make sure your family knows what you want to happen when you pass away. At Foresight, we are one of a handful of advisers who have acquired the Willing Wisdom Index to help clients plan. The index
Letting your family know what you want to happen when you pass away is the final gift you can give them. If you are not clear about how you want your money to be split, especially if you have more complex wishes such as uneven distributions, or have stepchildren, then how do you expect your
Making a gift to your family and friends while you are alive can be a good way to reduce the value of your estate for Inheritance Tax purposes, ensuring those closest to you benefit from a lifetime of your hard work. Estate and tax planning is a complex area and professional financial advice can help
It is a sombre thought to think about what happens to your family once you are gone, or what happens should your spouse pass away prematurely. However, with increasing life expectancy, many more are shunning widowhood and are instead searching for a new partner with which to enjoy a later-life romance. Marriage rates for over-65s
“I’ll do them when I am older.” If I had a pound for every time that I had heard that phrase when asking about Wills, then I would be significantly more wealthy. Unfortunately, as we all know, there are only 2 certainties in life – and suddenly taxes seem the more appealing. As the pandemic
As a Wealth Strategist, one of the things that you learn at a very early point is that it is not the amount of money you have that makes you happy, it’s what you do with it that gives the enjoyment. And, although the richest clients are not necessarily the happiest, it is also true
There are likely to be many long-term changes as a result of the current pandemic. Many people will be taking a long, hard look at their pre-COVID existences and starting to consider what is really important in life. The idea of selling the family business and sailing off into the sunset might well be a
The average age for a UK adult to become a parent is 29.8 years old. By this point, most people should have at least a basic understanding of how to look after their finances. They should be contributing to a pension. Some will be diligently saving into ISAs in the hope of becoming an “ISA
Working from home and keeping the team culture alive can be difficult during these COVID-19 times. But, we have worked hard to make sure we continue in the same way we did in the office. Part of this has been to keep up the element of team fun and we have found Zoom fantastic for
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