Client Stories: Guaranteeing future liquidity and leaving a healthy legacy.
Often our clients come to us with complex problems that go far beyond simple finances. Take, for example, Hugh. In his early 70s and recently retired from his longstanding, third generation family business, Hugh’s sizeable stock portfolio was inherited and hasn’t been well managed over the years.
With this mismanagement in mind, Hugh and his family were concerned about the position and future of his finances. How much Inheritance Tax would he be liable for? Was he liable for Capital Gains Tax?Where would this leave both his current financial liquidity and the legacy he’ll leave for his relatives? Hugh is making the most of his retirement. After many years of working hard, he’d rewarded himself with an active, indulgent lifestyle that he wasn’t looking to limit or reduce anytime soon.
This complex, emotive case was something we wanted to handle responsibly. Our priorities were to ensure that Hugh could keep his lifestyle, provide security to his family and that his wealth stayed in his control. All this plus a promise of further profit in the future the estate.
We offer tailored, creative solutions to our clients to meet their individual lifestyles and requirements and this was something we were committed to creating for Hugh. With a mix of financial solutions including Enterprise Investment Scheme Investment and Business Property Relief, Property Relief and debt, we created 500k of value for the estate, more liquidity for Hugh and an ongoing financial strategy to maintain and improve his current stock portfolio.
Hugh and his family came to us with a set of circumstances and a portfolio that created a tax problem for the next generation. While he could, academically, understand his finances, what he wanted for himself and his family and the overall spectrum of challenges he felt he was facing meant he didn’t know how to resolve the issues. After speaking to Murphy Wealth, we developed a plan that not only tackled his current circumstances but guaranteed future liquidity and a healthy legacy to his family. His portfolio is now being de-risked and his tax managed much more efficiently so that Hugh has peace of mind. Our creative formula means his finances are in a much better place and his family will benefit from our advice too.
Are you concerned about your investment portfolio? How much has it been monitored and managed in recent years? Is it only really taken care of by a stockbroker from an investment perpective? If so – you could be missing out on thousands of pounds worth of opportunity.
At Murphy Wealth, we work closely with you to ensure that you’re reaching your wealth potential and that your money is where it should be – completely in your control.
Contact us today to find out what we can do for you