Practicalities of Estate Management

Practicalities of Estate Management

Practicalities of Estate Management
Practicalities of Estate Management 1

Written by Sebastian Elwell

October 17, 2020

Estate Management

Beyond purely financial planning matters, the practicalities of managing the estate of a deceased loved one can be overwhelming.  Are there services out there that can help with sorting and distributing possessions?  I caught up with Claire Potter, founder of Blue Door Bespoke to discuss her service.  Claire kindly agreed to provide the following guest blog.

 

 

 

 

Practicalities of Estate Management 2
Practicalities of Estate Management 3
Practicalities of Estate Management 4
Practicalities of Estate Management 5

I started Switchfoot Wealth to offer financial planning that matches the way we live and work today. Using the best technology and offering expertise gained through both formal qualifications and years of working closely with clients, we are bringing financial planning into the 21st century, helping people, businesses and professional advisers make the most of their time and their money.

– Sebastian Ewell

Switchfoot Wealth Founder

Read more about Switchfoot Wealth

Related Articles

Collaboration: Cash Flow Planning & Business LPAs

Collaboration: Cash Flow Planning & Business LPAs

It can be difficult for healthy clients to imagine being unable to make decisions for themselves. Even clients who are acting as attorneys for parents or are carers often think it won’t happen to me.

But drawing up a Lasting Power of Attorney is fundamental to good financial management and providing clients with the care they’ll need in difficult times. We must persuade clients to put one in place before it’s too late.

Cashflow planning: Tax planning and the affordability of gifting

Cashflow planning: Tax planning and the affordability of gifting

We believe that cash flow planning is an essential part of private client work – for financial advisers, accountants and solicitors alike. Understanding its importance means we can give better advice and that in turn allows our clients to make the most of what they have.

The perils of deliberate deprivation and why a cashflow plan matters

The perils of deliberate deprivation and why a cashflow plan matters

There are many legitimate reasons why people may want to make large gifts: for example, inheritance tax planning, supporting family members or ‘balancing up’ previously unequal gifts to family. When planning gifts, it is important that individuals take advice and document objectives and the effect of the gift, which can help protect them from an accusation of ‘deliberate deprivation’ in the future. Cashflow planning can help in this instance

SwitchFoot Wealth Limited is an appointed representative of Sense Network Limited which is authorised and regulated by the Financial Conduct Authority. SwitchFoot Wealth Limited is entered on the Financial Services register (www.fca.org.uk/register) under reference number 808196.
Registered Address: 28 Upper Hale Road, Farnham, Surrey, GU9 0NS. Registered in England & Wales No.: 11220173.
The information contained within this website is subject to the UK regulatory regime and therefore restricted to consumers based in the UK.

The Financial Ombudsman Service is available to sort out individual complaints that clients and financial services business aren’t able to resolve themselves. To contact the Financial Ombudsman Service, please visit www.financial-ombudsman.org.uk.

The perils of deliberate deprivation and why a cashflow plan matters

The perils of deliberate deprivation and why a cashflow plan matters

The perils of deliberate deprivation and why a cashflow plan matters
The perils of deliberate deprivation and why a cashflow plan matters 6

Written by Sebastian Elwell

October 3, 2020

Deliberate deprivation
The perils of deliberate deprivation and why a cashflow plan matters 7
The perils of deliberate deprivation and why a cashflow plan matters 8
The perils of deliberate deprivation and why a cashflow plan matters 9
The perils of deliberate deprivation and why a cashflow plan matters 10

I started Switchfoot Wealth to offer financial planning that matches the way we live and work today. Using the best technology and offering expertise gained through both formal qualifications and years of working closely with clients, we are bringing financial planning into the 21st century, helping people, businesses and professional advisers make the most of their time and their money.

– Sebastian Ewell

Switchfoot Wealth Founder

Read more about Switchfoot Wealth

Related Articles

Collaboration: Cash Flow Planning & Business LPAs

Collaboration: Cash Flow Planning & Business LPAs

It can be difficult for healthy clients to imagine being unable to make decisions for themselves. Even clients who are acting as attorneys for parents or are carers often think it won’t happen to me.

But drawing up a Lasting Power of Attorney is fundamental to good financial management and providing clients with the care they’ll need in difficult times. We must persuade clients to put one in place before it’s too late.

Cashflow planning: Tax planning and the affordability of gifting

Cashflow planning: Tax planning and the affordability of gifting

We believe that cash flow planning is an essential part of private client work – for financial advisers, accountants and solicitors alike. Understanding its importance means we can give better advice and that in turn allows our clients to make the most of what they have.

The perils of deliberate deprivation and why a cashflow plan matters

The perils of deliberate deprivation and why a cashflow plan matters

There are many legitimate reasons why people may want to make large gifts: for example, inheritance tax planning, supporting family members or ‘balancing up’ previously unequal gifts to family. When planning gifts, it is important that individuals take advice and document objectives and the effect of the gift, which can help protect them from an accusation of ‘deliberate deprivation’ in the future. Cashflow planning can help in this instance

SwitchFoot Wealth Limited is an appointed representative of Sense Network Limited which is authorised and regulated by the Financial Conduct Authority. SwitchFoot Wealth Limited is entered on the Financial Services register (www.fca.org.uk/register) under reference number 808196.
Registered Address: 28 Upper Hale Road, Farnham, Surrey, GU9 0NS. Registered in England & Wales No.: 11220173.
The information contained within this website is subject to the UK regulatory regime and therefore restricted to consumers based in the UK.

The Financial Ombudsman Service is available to sort out individual complaints that clients and financial services business aren’t able to resolve themselves. To contact the Financial Ombudsman Service, please visit www.financial-ombudsman.org.uk.

The challenges of the Sandwich generation

The challenges of the Sandwich generation

The challenges of the Sandwich generation
The challenges of the Sandwich generation 11

Written by Sebastian Elwell

May 20, 2020

The challenges of the Sandwich generation 12

The challenges of the ‘Sandwich’ generation

Children growing up and sitting exams; parents requiring more care and attention; trying to keep your career on track – these are the challenges of the so-called ‘Sandwich’ generation. If this sounds familiar, it’s probably because you’re either already in this situation or you can see it looming on the horizon. It can be an extremely difficult time of life – and even more so if you have legal responsibilities to someone you love.

Acting as an attorney for a loved one

As people become more aware of the importance of making a Lasting Power of Attorney (LPA) well before it’s needed, there has been an increase in the number of people taking on those attorney duties. This is a positive thing, because it’s vitally important that someone – or more than one person – trusted by the individual is looking after their affairs. Trying to do so after the individual’s competence to make decisions has gone is extremely complicated, so it is always best to make your LPA – both for health and finances – as early as possible.

There are a number of legal responsibilities for an attorney, and these responsibilities must be taken seriously and carried out appropriately. These include:

·      Always acting in the best interests of the individual

·      Taking reasonable care when making decisions on the individual’s behalf

·      Acting in accordance with the terms and direction of the relevant LPA

·      Involving the individual in decisions wherever practical and reasonable

Making life easier

There are a range of challenges involved with being an attorney for a loved one. The biggest of these is having to make difficult decisions when you are so personally involved in the care of that individual or the outcome of any decision you make. Add in the fact that these are often complex financial or difficult health decisions, and it’s easy to see why things can become stressful.

To add to this pressure, there is often more than one attorney appointed. This might be another family member, or it might be a professional attorney like a solicitor. This is a good thing from the perspective of the individual – it’s an added layer of protection – but it can make it trickier to organise practical things, particularly if the attorneys are not in the same location. Sharing paperwork and keeping track of finances becomes more complicated and can result in additional friction or stress.

Sandwich generation attorneys can use technology to help them manage this part of their lives. Applications like Switchfoot Teams (our preferred financial planning portal for attorneys) allow attorneys – and other relevant professionals – to have oversight of key finances, and to access important documents like the full LPA, share certificates, insurance documents and more. Easy to set up, easy to use and the ideal way to keep a handle on all the different areas you may need to cover as an attorney, this technology can help to manage at least one of the responsibilities you have.

To find out more, speak to us today.

The challenges of the Sandwich generation 13
The challenges of the Sandwich generation 14
The challenges of the Sandwich generation 15
The challenges of the Sandwich generation 16
There are a range of challenges involved with being an attorney for a loved one. The biggest of these is having to make difficult decisions when you are so personally involved in the care of that individual or the outcome of any decision you make.

Sandwich generation attorneys can use technology to help them manage this part of their lives

– Sebastian Ewell

Switchfoot Wealth Founder

Read more about Switchfoot Wealth

Related Articles

Collaboration: Cash Flow Planning & Business LPAs

Collaboration: Cash Flow Planning & Business LPAs

It can be difficult for healthy clients to imagine being unable to make decisions for themselves. Even clients who are acting as attorneys for parents or are carers often think it won’t happen to me.

But drawing up a Lasting Power of Attorney is fundamental to good financial management and providing clients with the care they’ll need in difficult times. We must persuade clients to put one in place before it’s too late.

Cashflow planning: Tax planning and the affordability of gifting

Cashflow planning: Tax planning and the affordability of gifting

We believe that cash flow planning is an essential part of private client work – for financial advisers, accountants and solicitors alike. Understanding its importance means we can give better advice and that in turn allows our clients to make the most of what they have.

The perils of deliberate deprivation and why a cashflow plan matters

The perils of deliberate deprivation and why a cashflow plan matters

There are many legitimate reasons why people may want to make large gifts: for example, inheritance tax planning, supporting family members or ‘balancing up’ previously unequal gifts to family. When planning gifts, it is important that individuals take advice and document objectives and the effect of the gift, which can help protect them from an accusation of ‘deliberate deprivation’ in the future. Cashflow planning can help in this instance

SwitchFoot Wealth Limited is an appointed representative of Sense Network Limited which is authorised and regulated by the Financial Conduct Authority. SwitchFoot Wealth Limited is entered on the Financial Services register (www.fca.org.uk/register) under reference number 808196.
Registered Address: 28 Upper Hale Road, Farnham, Surrey, GU9 0NS. Registered in England & Wales No.: 11220173.
The information contained within this website is subject to the UK regulatory regime and therefore restricted to consumers based in the UK.

The Financial Ombudsman Service is available to sort out individual complaints that clients and financial services business aren’t able to resolve themselves. To contact the Financial Ombudsman Service, please visit www.financial-ombudsman.org.uk.