14 15 6 Legacy Once you know who you’ll be providing for, you need to know what assets you’re going to leave, calculate how much you’re going to leave, as well as how much you can afford to leave, and plan the best way to go about it. “The greatest use of life is to spend it for somethingIt’s only when you’ve understood the rest of your that will outlast it.” financial future that you can start to determine what you can pass on and to whom that will go. – William James, philosopher and educator. I think it’s alway s important to recognise that someone’s wealth represents the blood, sweat and tears of their life, and you have to make sure that it doesn’t just get wasted, Legacy planning gives you the opportunity to make a either when it’s passed on or by the next generation. difference to the lives of your loved ones. Any wealth you pass on could help your children or grandchildren at really crucial stages of their lives. When creating your Wealth Plan, I want you to think about what’s on the horizon for your children or grandchildren, for example: ey hoping to buy their first flat? * Are th * Are they going to university? * Will they be getting married sometime soon? * Are they trying to establish a business of their own? The wealth you leave them could make a real positive impact at these points in time. People feel inspired when they can see how their wealth could make a real difference through their legacy planning. 23 Jonathan M. Gibson CFP™, Chartered Fellow (Financial Planning)Jonathan M. Gibson CFP™, Chartered Fellow (Financial Planning) www.wellsgibson.uk www.wellsgibson.uk
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