Family Wealth Management - Estate Planning | Financial Advice Cardiff

Estate Planning

The Challenge

Seventy-one year old Terry and seventy two year old Cathy were really concerned about what would happen to their money should something happen to one of them. Terry especially wanted to know that Cathy would have enough money immediately available to her, should something happen to him prematurely. Cathy and Terry felt they needed to understand more about their finances. They had a whole host of investment and savings plans dotted around all over the place: they did not really know what they had, who it was with, and what it was doing – or was meant to do – for them.

Both Cathy and Terry felt that they did not like too much investment risk and wanted to know that their monies were invested in a cautious manner, as they were just looking to preserve their capital.

The Outcome

Terry was very pleased with the planning process Penguin took them through: he gained great peace of mind out of knowing that financial life would be straightforward for the survivor.

Terry and Cathy now feel that they understand what they have, where it is and how it is invested. Both of them took great satisfaction in knowing that their money was invested in a cautious manner.

How Penguin made a difference

We took time to uncover the reasons why they had taken out the various plans, and to understand what Terry meant by ‘having enough money’ and what their plans were for the rest of their lives. We communicated with over twenty different companies to find all the existing plans that they had, to understand what each of them did and what they would do in the future. We then tidied up the plans to ensure that should something happen to one of them, the survivor would be able to get hold of their money without having to wait. Assessing Terry and Cathy’s attitude to risk, we put a Cautious Investment Strategy in place with the main aim being capital preservation. Both Cathy and Terry felt that they did not like investment risk and wanted to know that their monies were invested in a cautious manner as they were just looking to preserve their capital.

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