Follow Sven's financial journey to secure his financial legacy:

Sven owns a limited business; he is looking to exit in 12 months and has approached CroweFPUK for financial advice. Sven is aware that post sale, he will have significant capital which will need to produce an income for him going forward. Sven has always wanted to travel and is planning a big family holiday to celebrate but does not know what life looks like beyond this and feels unsure as to what the future could hold.

Sven has spent a lifetime building value within his business and so it is important to him that his family benefits from his hard work and this is preserved in the form of a legacy. Sven wants his children to make their own way in life and so he doesn’t want to give them large sums of money as he thinks they are too young to appreciate the capital.

• made plans to take advantage of allowances on the approach to the business sale 
• we defined a clear strategy to structure the wealth post sale to optimise, diversification, flexibility and tax efficiency
• we focused on a structure which continued to facilitate control but also has the ability to prioritise legacy in the future.

Follow Zoha's journey to identify the most effective way to help assure her financial future:

Zoha has been a business owner for five years in a partnership structure, now her cash flow has stabilised, she has approached CroweFPUK for financial advice. Zoha has a young family and wants to ensure should something happen to her; they will remain financially secure. Zoha also wants the business to be able to continue to run as she feels passionate about the business she has built.

Zoha is concerned a large portion of her wealth is tied up in the business and not easily accessible, she would like to take strides to strengthen her personally held assets and where possible, she would like to start building little pots for her young children.

• discussed her ‘legacy’ and the importance of having a business Will and a personal Will in place, and Zoha has implemented the necessary legal documents following this
• implemented financial protection both personally and from within the business. This was by structuring tax efficiently, with Zoha’s beneficiaries in mind and aligning with her legacy objectives
• discussed how she was extracting capital from the business and any tax efficient opportunities available to her
• implemented personal investments/pensions to start diversifying her wealth
• determined, it was not yet affordable to set up provision for the children but as the business becomes more profitable, and more income can be drawn, this will become an option in the future. We discussed other ways legacy can be defined and Zoha plans on educating good financial habits to her children in the immediate future.