None of us know what the future holds, but we need to be ready for all possibilities. Forward planning is important. We encourage all our clients to make contingency arrangements to cover key eventualities. Whatever happens you are then prepared for it and will have no regrets that you should have done more.

Have you asked yourself how you can balance the needs of today with the needs of tomorrow? It’s a difficult question to answer and people’s views vary enormously. Some specific questions you might ask yourself:

The business

• Who will run my business when I am gone?
• What if I am sick and cannot work?
• Will my business be worth anything to anyone else?
• Will I get what I want for it? How much tax will I have to pay?
• How do I go about selling it? What is the best way for me?
• Can I pass it on to my loved ones when I leave?
• Can the business support me in my retirement and old age?

When no longer working

• Will I have enough to live on? Can I afford to put something away now?
• Are my savings and pensions in the right place?
• When and what can I pass over to my children?
• Who will care for me in old age?
• What if I can no longer manage my own affairs?