Lamb & Associates Independent Financial Planning Ltd

01661 860438 

Unit 1 Meadowfield Court, Ponteland, Newcastle-upon-Tyne NE20 9SD

Lamb and Associates Independent Financial Planning Ltd is authorised and regulated by the Financial Conduct Authority. FCA number 782092. Financial Services Register number 624597.

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FROM ROI TO ROL : Return on Investment to Return on Life

December 10, 2018

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Make Your Estate Plan

February 27, 2019

Distributing what is left after your Bucket List


Your Objective -  To identify how much you want to leave (the rest is yours to spend!) and, if you have financial dependents, understand how much you would need to leave to ensure they maintain their lifestyle.


No one can predict the future, but one thing is sure: If we leave unanswered questions about how to settle our affairs, life for those we love could be even more difficult. That’s why answering questions now—and formalising them in an estate plan—is an important step that shouldn’t wait.


How much do you WANT to leave?


The answer to this question will help determine the minimum amount you require for your readily realisable assets and therefore help us calculate how much extra you can spend each year


How much do you NEED to leave?


How much do you need to leave your dependent to ensure their lifestyle can be maintained, without running out of money?  Cash flow modelling will help answer this question.

How much WILL you leave?


This will change throughout your life, but if you died yesterday, would this be enough?


What would be the consequences if you did not leave enough?


How would your dependants manage if you did not leave them enough to maintain their lifestyle?  What would they have to do without?  How could they make up the shortfall?


What would be the consequences if you left too much?


If you were to leave too much, would this mean that you did not complete your bucket list?  Would you look back over your life and have regrets, knowing that you had enough money to live your life to the maximum, but didn’t?  Could you have stopped work earlier and spent more time doing the things you wanted to do, but did not have the time? Could you have given money to your beneficiaries sooner, whilst you were alive, when they needed it more?  How much inheritance tax will your estate have to pay?


What would you do with excess income?


If you have too much income, and you are never going to spend it all, would you invest the money you do not need to increase the value of your dependent’s legacy?


Is your Will up to date?


You should review your will every 5 years and after any major change in your life, eg:

  • getting separated or divorced

  • getting married (this cancels any will you made before)

  • having a child

  • moving house

  • if the executor named in the will dies



If you were incapacitated, and unable to manage your finances, who would look after your money?


If you were to become incapacitated due to injury or illness, if you have not nominated a person you trust to make important care and financial decisions on your behalf, the Court of Protection to take over your affairs, which will then become expensive, involve months of waiting and could be soul destroying for your family.


To avoid leaving this critical decision to others, who may or may not have your best interests at heart, you should protect yourself, your family and your hard-earned assets with a Lasting Power of Attorney


Who knows where to find my records?


If anything happened to you, how easy would it be to wind up your estate? Would your executors know where to find everything and who to notify? As part of our service, we keep a record of all your assets and liabilities and your professional advisers.


Call 01661 860437 or email today or refer someone you know and we can send you our financial lifestyle planning questionnaire. 


#LambAndAssociates #CreateYourFuture #IFA #FinancialPlanning



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