The baby boomer generation has lived in a time that has enabled them to build more wealth than any other generation. Their wealth has been derived from a number of sources but for many these include increasing house prices over the last 3 decades, final salary pension schemes and rising equity markets. Many baby boomers often have three main considerations on their mind today:
At Tilikum Wealth Management, we help our clients create a bespoke financial life plan that enables them to structure their assets during their lifetime so their, and their family’s, needs are met. This might involve gifting, pension planning, life policies, estate planning through trusts* (in collaboration with expert private client solicitors) and investing with a view of protecting capital should markets inadvertently fall.
The key to financial planning for families is to make it intergenerational, and with a structure that enables control to be maintained by the ‘settlors’ (the donors) whilst ensuring that the beneficiaries of the lifetime estates do, truly, benefit.