The Atticus Papers

Bringing clarity to finance

Saturday 17th September, 2022

Lasting Power of Attorney – Things for an attorney to consider when investing a donor’s funds

Lasting Powers of Attorney naturally raise a number of difficult circumstances and considerations for the attorney responsible for the donor's finances. With the cost of care costs spiralling, managing money effectively for attorneys has become a nightmare. Attorneys are worried that a failure to invest at least some of the funds available will result in them running out of money to fund the donor’s care costs. However, the risk of potentially losing money by investing in asset backed investments is equally daunting. Some even question their authority to do so. I feel genuine sympathy for their plight. A vast number of attorneys are simply the concerned offspring, with no professional investment or legal background, looking to manage their parent’s assets in a way that will protect their mum or dad’s financial future. For many of them, the high care costs mean that they are watching the funds available become more and more depleted on a monthly basis. Unfortunately, there is no silver bullet in this situation. There are no cash deposits offering fantastically high rates of return with minimal levels of investment risk. The greatest security for many may come from purchasing an immediate needs annuity, but the prospect of paying a considerable sum for an income that may only last a matter of months, is an unpalatable option. This is a very complex area, and it is crucial for any attorney thinking about investing a donor’s money, to take financial advice. In this article, I have looked at case law to try and determine the circumstances in which it is suitable for the attorney to invest the donor’s money. Furthermore, I have highlighted some principles and considerations that may help attorneys to decide whether they should be looking to invest to maximise the donor’s returns.

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Monday 15th August, 2022

Relevant Life cover -How to tax efficiently provide your life insurance cover through your company

Many small business owners sink blood, sweat and tears into their business. All their dreams and future goals for themselves and their loved ones are often inextricably linked to the success of their business venture. Often they are the main bread-winner, with their partner staying home and looking after the family. When they succeed, it is the culmination of years of effort and stress, but the rewards are so sweet. However, what happens if the unforeseen happens? What happens to your family and all the resources and effort that have been sunk into the business if the adventurous business owner dies? Do all their dreams and ambitions for their loved ones die with them? In this article, I will discuss how to protect against such an event, using your business to provide the protection your family needs. Furthermore, I will show how this can be in a manner that can be far more cost effective and tax efficient than if you were to pay for the life insurance your self.

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Monday 28th February, 2022

Long term investing - the importance of staying invested during difficult markets

As we find ourselves going through a period of global economic and political uncertainty, it is quite reasonable to ask whether you should be selling out into cash, or whether it is best to remain invested. In order to address this question, I have put together the article below. It will look at historical data in order to explain and justify the importance of remaining invested over the long term, despite the apparently dire economic circumstances. I hope you find this article useful, but if you have any questions you would like to discuss, then please don't hesitate to give Atticus Financial Planning a call.

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Friday 6th August, 2021

A guide to successfully exiting your business - Things to consider when selling your company

What do you need to consider when selling your business? I am frequently asked this question by clients who have been incredibly successful in building their business, but have given little thought to how they will eventually exit the business or what a successful exit will even look like. The reality is that selling a business can be as fraught with pitfalls as the actual process of starting the business up and making it profitable. I have therefore put together this guide which takes an in-depth look at: • When you should start planning your business exit • Your objectives when selling your business • Your options when selling your business • How to make your business more attractive to buyers • How to value your business • Which advisers and professionals you should talk to and how they can help • How a financial adviser can help with your pre and post exit planning I hope you find this guide useful, but if you have any questions, please don't hesitate to get in touch with us. We are always happy to help and have a broad range of contacts with other experienced professionals we can put you in touch with, who can make a huge difference to the eventual outcome of the process.

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Tuesday 1st June, 2021

How do you pay for financial advice - a complete guide to financial adviser charges and fees

I am often asked by people, "How do I pay for financial advice? What fees do financial advisers charge?" This is an incredibly important question, as fees and charges create a drag on investment performance. If they are too high, how are you to make the investment returns you need to achieve your goals? If they are too complicated, how are you to know if they are too high? There are many people who could benefit from taking financial advice. There is a mountain of evidence that shows that taking financial advice makes a real difference. However, many people are put off by the fees and charges. We have therefore put together this guide to help explain all the charges involved in paying for financial advice, including the advice fees and the fees on the investments and platforms themselves.

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If you would like further information, please don’t hesitate to ask us for one of our more complete digital guides to finance.