Be Smart, Be Prepared, Be Legal

Becoming “Financially Well Organised”

Death and taxes are guaranteed that is for sure. Therefore the importance of being “Financially Well Organised” at the very earliest time cannot be overstated.

It will save you and your beneficiaries very significant amounts of money and provide comfort at important times in your lives.

When advising clients about their “Financial Organisation”, we usually recommend only retaining money in their country of tax residency that is going to be spent or Notarised, i.e. when buying a home, a business, a car or boat etc…

Emergency Cash

Sufficient cash should be held on deposit to cover short-term emergencies with longer-term liquid assets retained in a Compliant Tax Structure appropriate to your current or future planned tax residency.

It is important to retain a level of guaranteed liquidity that is relevant to the cost of your lifestyle, especially if you are self employed or rely on part or all of your income from investments.

The quickest way to deplete the value of your investments is to to draw down on them when they may be temporarily under market value. Your Emergency Fund should be sufficient to underpin the cost of your lifestyle in order to allow time to deliver significantly superior results above bank interest rates and average inflation.

We will help guide you towards what is appropriate for your personal circumstances.

All valid and worthwhile Financial Planning, no matter at what time of life you currently are, starts with becoming “Financially Well Organised”. Time lost to Financial Planning is very expensive and can never be replaced.

This will ensure more of your assets will be protected during your lifetime and therefore passed to selected beneficiaries in the future.

We would be pleased to help you to be smart, be prepared and be legal with your money.

If you would like to find out how becoming “Financially Well Organised”, Stein PCP style, will help you make the best use of your assets and protect your estate please let me know by emailing stuart@steingroup.biz or call me on my private mobile, number +34 653122716.

With best wishes

Stuart Langan
Principal

Stein Personal & Corporate Planners

The views expressed in this article are not to be construed as personal advice. You should contact a qualified and ideally regulated adviser in order to obtain up to date personal advice with regard to your own personal circumstances. If you do not then you are acting under your own authority and deemed “execution only”. The author does not except any liability for people acting without personalised advice, who base a decision on views expressed in this generic article. Where this article is dated then it is based on legislation as of the date. Legislation changes but articles are rarely updated, although sometimes a new article is written; so, please check for later articles or changes in legislation on official government websites, as this article should not be relied on in isolation.

About the Author

Stuart Langan

Stuart started his Financial Services career in 1982 and in 1992 was a founding partner of J Rothschild Partnership, later to be St. James’s Place, listed on the FTSE 250 Index. Stuart moved to Spain in 2000, leading him to leave St James’s Place in 2002 and is the Principle of Stein Personal & Corporate Planners.

Be Smart, Be Prepared, Be Legal