As we grow older, we naturally start to make considerations for when we eventually pass away. Unfortunately, life cannot always be predicted – which means it’s incredibly important to have a good succession plan in place. This will protect dependents of any age, and ensure that all assets are passed to the correct person, rather than becoming a point of contention.
A succession plan can include a will, guardianship documentation, trusts, foundations, holding companies and insurances, all of which can ensure a family’s financial security over the long-term.
There’s certainly a lot to consider for those who hold substantial assets and want to ensure their stability after death. With so much at stake, it’s crucial for those planning their succession to seek professional advice. This will help to ensure that their plans are watertight – only then will they gain peace of mind, knowing that their assets will be taken care of.
Here at Finsbury Associates, we’re highly experienced in offering the kind of financial advice that is paramount when considering a succession plan. Our team can help to ensure that your loved ones will be safeguarded should the worst happen, whether it’s through a Family Asset Protection Trust or through an excellent life insurance policy.
Contact one of our team to find out how we could help you with succession planning – or download some of our handy guides to discover more.