Later life planning

Many of us avoid later life planning. While we want to remove uncertainty about our futures, it can be difficult to talk about, especially with our loved ones. Estate planning can remain on your ‘to do’ list for years… until it becomes too late.

Setting out a plan for later life can prevent stress later on. And you don’t need to do it alone. A financial adviser can support you through this process and help you answer the tough questions about your future – such as ‘how long will my current provisions last?’, ‘can I afford the lifestyle I want?’, ‘what kind of legacy can I leave my children?’ and ‘what will happen if I can’t make decisions about my care?’.

Whether you’re looking to prepare your own finances (or support a friend or family member) talking to a Wren Sterling adviser can help.

54% of UK adults don't have a Will. Do you?*

We’ve teamed up with Private Client Online to help you with your estate planning. Enter your instructions on their simple to use step-by-step online portal, and receive a professionally drafted Will from their solicitors.

Wren Sterling clients also receive a 20% discount.

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Why is later life planning important to do now?

Later life planning is not something to be rushed. It’s better to spend time planning your future now, while you are able to, to avoid stress later on. Think about what arranging your estate planning now achieves:

  • You decide on the choice of beneficiaries If you do not set out in a will whom you wish to benefit from your estate, then the state will do it for you. The results are not always what you would expect and can create unnecessary tax liabilities.
  • You decide what goes to whom You might want to leave a particular item to a particular person. Without estate planning, those wishes may not become reality.
  • You decide the structure Leave it to the state to distribute your wealth and normally anyone aged 18 or over will receive their inheritance outright. In some families, that will not be an issue, but in others placing some constraints on how an inheritance is handled could be essential.

Important: If you die without having a valid will, the laws of intestacy apply. These default rules can have surprising results. If your wishes are to be carried out, set these out in a will, and consider talking to a financial adviser or attorney.

Our services

Holistic financial planning – we can discuss all areas of financial advice, creating bespoke financial plans that allow you to protect what you have, grow your wealth and achieve your financial goals.

Portfolio and investment advice – advice to help you grow your wealth, review or build your portfolio, with an understanding of your tolerance for risks and rewards.

Cashflow forecasting – our advisers use cashflow forecasting tools to analyse your spending and saving habits, helping you prepare for your future financial journey.

Care planning – your adviser can consider strategies to finance any care you or your partner may need and highlight the effect this may have on your estate.

Inheritance tax (IHT) planning – Is your estate worth more than £325,000? Avoid paying unnecessary tax. Your adviser can help you make the most of the reliefs and exemptions which apply to you, reducing or even removing this bill.

Pensions advice – Some pension decisions are irreversible. These choices will affect your income in retirement. Whether you’re approaching retirement – or are already drawing on your pension – you can ask an adviser about the options you have.

Supported by specialist partners – we partner with a number of firms to provide access to specialist services – if your circumstances require the input of an attorney, tax specialist, accountant, or mortgage adviser.