Receiving a lump sum?
You might have received a monetary settlement because you:
- Got divorced
- Had an accident and your personal injury claim was successful
- Bought a successful claim against a former employer
There are, of course, other reasons too. However, regardless of what the settlement relates to, it will probably have been a difficult journey getting to this point. And with the lawyers paid and the money in the bank, you now need to turn to the future. In particular, making sure yours is as bright and secure as possible.
Settlements follow life-changing events often take many months (even years) to come through. You may therefore have worked through the emotions of the event and are ready to move on. That’s where we come in, carefully planning your financial future to ensure you make the best possible use of the money.
We can help you:
- Understand the legal process, particularly if you will be awarded a share of your ex-partner’s pension
- Take a step back, and avoid quick or rash decisions
- Find a suitable and secure temporary home for the settlement, removing the pressure to make quick decisions
- Understand any restrictions placed on the settlement. For example, if you have received a share of your former spouse’s pension, the money is not usually accessible until you are in your 50s
- Understand what you want from life in the short, medium and long term. What are your goals, aspirations and ambitions?
- Decide whether to repay debt, invest the money, or consider a combination of both options
- Understand how the money could be used to change your life and those around you
- If appropriate, invest a proportion of your settlement to help you achieve your future goals and aspirations
- Put your affairs in order, so if you die unexpectedly, your finances are well organised
- Ensure that if you do die prematurely your loved ones will pay as little tax as possible allowing them to enjoy more of the settlement
Our advice is to spend time thinking about what you want, and what you can afford. This should not be rushed, and we can help you with this process.
By understanding your aims for the future, and forecasting your wealth over your lifetime, we can show you what you can (and can’t) do financially. We also optimise your wealth with careful planning, minimising taxes and making the most out of every penny.
What our clients say
Rebecca took the time to listen carefully to our current position, but importantly, what we wish to achieve in the and longer-term. She then came up with a number of recommendations and was happy to revise and amend as our thoughts matured and some changes were made.
She and her team have all been patient, helpful and professional and we have felt confident and comfortable in working with her.