The loss of a close relative can be traumatic, and things can be very much worse if there are financial questions. Probate is the process of answering those questions and conjures up images of Dickensian courtrooms, long and protracted legal arguments and delays, where long lost relatives fight over assets and everybody loses apart from the lawyers.
There is something else we need to look at – planning how we will transfer our wealth to the next generation when we will be using it no more. This is estate planning. Like every other aspect of finances, in the wake of the coronavirus, it may need a fresh look.
It is an unavoidable fact of life that it comes to an end. We all want to enjoy it for as long as we can, but we all know that we need to think about how our wealth will be used after we no longer need it ourselves. At Continuum we look at ways to ensure as much of your wealth goes to your loved ones and not the taxman.