The idea of financial planning is to allow you to manage your money so that you can get what you want out of life.  The content of your financial plan will depend on your own individual circumstances but some of the key areas that should be covered include: 

Managing your Money

This includes managing debts (such as credit card bills), options for savings and the best ways to manage your day-to-day finances. 

Protecting against Risk

This includes protecting you and your family against the risk of financial setbacks by having measures in place to help you in the event of illness, injury, death or loss of income of yourself or a family member.

Selecting Mortgages and other Loans

Choosing the right mortgage for you can make a huge difference to your overall financial success.

Investing

Investment is all about making the most of your money in ways that suit your tolerance for risk.

Saving for Retirement

It’s important to consider when you want to retire and what sort of lifestyle you want to have when you are retired in order to figure out how much you’ll need to save to achieve this.

Estate Planning

If you do not have a proper Will in place, your assets will be distributed according to a formula, which might be quite different to what you want to happen.   It's also usually more expensive and takes longer to administrate estates without Wills.  

Your estate plan may also include setting up Enduring Powers of Attorney or a Family Trust.  Enduring Powers of Attorney allow you to appoint someone to manage your finances and make health decisions for you should you become ill and unable to do so yourself. Family Trusts can provide protection against insolvency, high taxes, claims by relatives and others against your Will and claims under the Property Relationships Act. 

Contact Us to find out more about Family Trusts.