When people think of financial planning, they often focus on savings, investments, pensions and tax efficiency. Estate planning, in contrast, is sometimes seen as something completely separate or something to deal with later in life. In truth, the two are closely connected, and the most effective approach is to consider them together.
At AHJ Wills & Estates, we specialise in Will writing and estate planning, but many of our team members have backgrounds in financial advice and wealth management. This allows us to take a broader view of each client’s situation and ensure that both their financial and legal affairs are working in harmony.
Why They Work Best Together
A Will ensures your assets go to the right people after you die. Financial planning helps you manage and grow those assets during your lifetime. If one is done without the other, your intentions might not be fully achieved.
For example, you may have a well-managed investment portfolio, but without a valid Will, your money could end up going to people you did not intend. Equally, you might have a comprehensive Will, but without the right financial structures in place, your beneficiaries could face avoidable tax bills or complications.
Planning for the Future
At AHJ Wills & Estates, we support clients by looking at the whole picture. That often includes:
- Inheritance tax planning
- Creating and managing trusts
- Writing Wills that reflect wider financial strategies
- Drafting Lasting Powers of Attorney
- Advising on property or business ownership
We work with a wide range of people, including individuals with complex family or financial situations. Our team includes former financial advisers from Coutts and a Chartered Financial Planner, which means we are well equipped to handle both straightforward and more intricate estate matters.
Keep Your Plans Up to Date
Major life events such as marriage, divorce, having children, or inheriting money should all prompt a review of your financial and estate planning. A Will written several years ago may no longer reflect your current wishes. Likewise, financial plans should evolve alongside changes in your personal circumstances.
By regularly reviewing both your Will and your financial arrangements, you can keep everything aligned and avoid future complications.
Benefits of a Joined-Up Approach
When financial planning and estate planning are considered together, you can:
- Reduce inheritance tax liability
- Avoid delays or disputes for your loved ones
- Ensure the right people inherit at the right time
- Protect vulnerable or young beneficiaries
- Maintain control if you lose mental capacity
Speak to a Team Who Understand Both
Whether you already work with a financial adviser or need help understanding how your financial choices affect your estate, we’re here to help. We are happy to collaborate with your existing advisers to ensure that everything is working towards the same outcome.
If you are based in Sheffield, Rotherham or the surrounding areas and want to take a joined-up approach to planning, get in touch with AHJ Wills & Estates. Our friendly, face-to-face service is designed to give you confidence and clarity about your future.
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