"Looking after you, and the generations to follow"

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Email:  help@sallyherdman.com

Telephone or WhatsApp:

UK  07831 379562 or Spain  622 374 738

Contact me for an informal, no obligation conversation to find out more and how I can help you with your inheritance needs.

Sally Herdman

Looking after the generations to follow

What are the 5 Threats to your Money?

Threat One – You haven’t made a Will 

Everyone should make a Will, however two out of three people have not yet made a one, and of those who have, they may not have the correct Will in place.


The vast majority of people put off making a Will for a variety of reasons, either believing that the people they would wish to inherit will automatically do so, or because they don't think it is relevant to them at this particular time.


Making a Will enables you to plan exactly what will happen to your property (estate) following your demise. This ensures that those you would like to benefit actually do so, in accordance with your wishes and at the same time avoiding any disputes between relatives.

Threat Two – You haven’t considered 'Bloodline Planning'

A large proportion of any inheritance is lost in future divorce settlements, to creditors or bankruptcy, and unnecessary taxation. Protecting your inheritance for future generations is commonly referred to as 'Bloodline Planning'.


Bloodline Planning is ensuring that your assets reach your children, grandchildren and other relatives, rather than ending up in the wrong hands.


The strategic use of Trusts can ensure that your children and grandchildren are able to benefit completely from the inheritance you want them to receive and, at the same time, protect the family home and other assets from being lost to the costs of Long-Term Care.

Threat Three – You haven’t thought about the cost of Long-Term Care

Most of us work very hard over the years to buy our own homes and build up our savings for our retirement and would like to leave a “little something” for our children and grandchildren after we are gone. However every year an estimated 70,000 people have to sell their homes to pay for care.


Unfortunately, the costs involved in moving into a Care Home can literally wipe out your entire savings and your home may have to be sold to pay for care fees. This could mean that your loved ones could receive very little, or even nothing at all of what you originally intended them to have.


Whatever assets we have, many of us would want them passed down to our children and grandchildren, so losing a property to care costs is a severe blow. Care Planning is vital If you are concerned about what you intend to leave your loved ones, no matter your circumstances.

Threat Four – You haven’t considered how to protect your business

If you own a business or a share of a business, your spouse / partner and children may not inherit your share of a business. 


Hard work and dedication have meant that you have built up a sound business to benefit you and your family and naturally, you would want to ensure that your loved ones are provided for in the event of your death. So, what if the worst should happen and either you, or a business partner were to die?


Without a valid Will, the deceased's share would be subject to the Laws of Intestacy and the person who inherits may not be the person you intended. Would you or your business partner be content to run your business with their surviving spouse or their beneficiaries? Business Estate Planning is vital to ensure you preserve your business assets for your family.

Threat Five – You don't have a plan for loss of mobility or illness

There may come a time in your life when you are unable to manage your financial affairs or personal welfare, owing to some form of incapacity and you will need someone to act on your behalf.


Even when we are young, we can find ourselves incapacitated owing to illness or injury and it can be invaluable having a reliable person, who is able to manage your personal affairs and remove the anxiety of having unpaid bills, at a time when you most need peace of mind. Similarly, as we get older, the need for an attorney increases as we are more prone to illness and injuries.


By creating a Power of Attorney in advance, it ensures that if the worst were to happen, you can rest assured that both your financial affairs and personal welfare are in safe hands.

help@sallyherdman.com

Telephone or WhatsApp:

UK  07831 379562

Spain  622 374 738

Contact me for an informal, no obligation conversation to find out more and how I can help you with your inheritance needs.

"Looking after you, and the generations to follow."

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