Order, comfort and relief
One of the elements of service that a good financial planner brings is a sense of order to finances. Personally I favour simplicity and as people get older they tend to want less nuance, preferring something that is very easy to monitor and manage. Having your financial details available for you and your potential beneficiaries readily available is a genuine relief. Clarity of what you have, where it is and who needs to be spoken to is hugely undervalued. Just pause for a moment and ask yourself if you would value this now? who knows where all your important “stuff” is? Is it difficult even for you to remember what you have?
Reviewing your Will and ensuring that the Executors know their responsibilities (and can be helped with them) undoubtedly makes grief much less burdened by the practicalities of “the aftermath”. Its odd that only yesterday I was on a training day about Trusts – which when used properly can really help with estate planning, but naturally requires quite a lot of forward planning, but whether you need a Trust or not, the questions posed about your own death and how your estate and affairs are to be managed are applicable to most people. Whenever someone dies their estate needs “settling” which means giving an accurate account to all connected parties, including HMRC and the dreaded Probate and inheritance tax forms.
May I suggest that you read this personal article by Victoria Bischoff, a journalist at the Daily Mail who writes movingly and succinctly about the problems that she and her family faced despite her mother’s highly organised affairs. The link is here. I have been through the process personally and am aware of how what should be simple, becomes unnecessarily difficult.
You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email email@example.com