Estate Planning Essentials for Your Legacy

Estate Planning Essentials for Your Legacy

“Estate planning is an important and everlasting gift you can give your family. And setting up a smooth inheritance isn’t as hard as you might think” Suze Orman

3 min read

Estate Planning Essentials

Estate Planning Essentials for Your Legacy

“Estate planning is an important and everlasting gift you can give your family. And setting up a smooth inheritance isn’t as hard as you might think” Suze Orman

3 min read

Estate planning is a vital aspect of financial planning that often receives less attention than other areas. Whilst topics like budgeting, investing and retirement planning are quite commonly referenced and may seem more immediate, neglecting estate planning can have significant consequences for your loved ones and the legacy you leave behind.

Today, we are here to give you the estate planning essentials you need to ensure this area of your planning can be managed effectively.

First Things First, Draft a Will

Drafting a Will is a great place to start with your estate planning. It will allow you to specify how your assets will be distributed among your beneficiaries should the worst occur. A well-written Will should outline your wishes regarding property, finances, and personal belongings, leaving no room for ambiguity or disputes amongst your heirs.

In addition to asset distribution, your Will can address other important considerations, such as the appointment of guardians for minor children and the designation of an executor to manage your estate.

We recommend seeking legal advice to ensure that your Will complies with applicable laws and accurately reflects your intentions, though this is not always necessary. You should also review your will on an ongoing basis to reflect any changes in your circumstances.

Establishing Trusts for Asset Protection

Establishing trusts can be an effective way to protect your assets and provide for your beneficiaries in a controlled manner. Trusts offer flexibility in asset management, allowing you to specify conditions for distributions and appoint trustees to oversee the administration of assets.

By placing assets in trusts, you can shield them from creditors, minimise estate taxes, and ensure that they are preserved for the intended beneficiaries. There are various types of trusts available, each serving different purposes and offering unique benefits.

For this, we recommend consulting with a legal Adviser or Patterson Mills Financial Adviser to help you determine the most suitable trust structure for your estate planning requirements.

Maximising Tax Efficiency through Estate Planning Strategies

Estate planning offers opportunities to minimise tax liabilities and maximise the value of your estate for future generations. By employing various tax-efficient strategies, you can reduce the impact of estate taxes, income taxes, and capital gains taxes on your assets, preserving more wealth for your heirs. Strategies include gifting, charitable giving, and the use of trusts (as above). These can help you achieve your objectives whils also leaving a lasting legacy.

One common tax-saving strategy in estate planning is the annual gifting of assets to beneficiaries, which can help reduce the size of your taxable estate over time. It is important that you check whether this is applicable in your country of residence.

Additionally, charitable giving through vehicles such as donor-advised funds or charitable trusts can provide tax benefits while supporting causes that align with your values. By incorporating these strategies into your estate plan and working closely with tax professionals, you can optimize the tax efficiency of your estate and leave a lasting financial legacy for future generations.

Planning for Potential Incapacity in Advance

In addition to addressing the distribution of assets after death, estate planning also involves preparing for potential incapacity during your lifetime. Authorisations such as a power of attorney allow you to designate those you trust to make financial and medical decisions on your behalf, should you be unable to do so. These documents ensure that your wishes are respected and that your affairs are managed according to your preferences even if you are unable to communicate them directly.

Authorisations such as these are essential for everyone, regardless of age or health status, as unexpected events can occur at any time. By proactively planning, you can avoid potential conflicts and legal complications whilst ensuring that your interests are protected and your financial and healthcare decisions are handled by those that you trust.

Reviewing and Updating Your Estate Plan Regularly

Estate planning is not a one-off exercise. Rather, it is an ongoing process that requires regular review and updates to reflect changes in your life circumstances and financial situation. Life events such as marriage, divorce, the birth of children, or significant changes in assets should prompt a reassessment of your estate plan to ensure that it remains relevant.

To ensure that your estate planning requirements are managed professionally and effectively, get in touch with Patterson Mills and book your initial, no-cost and no-obligation meeting. You will thank yourself later!

Send us an e-mail to or call us direct at +41 21 801 36 84 and we shall be pleased to assist you.

Please note that all content within this article has been prepared for information purposes only. This article does not constitute financial, legal or tax advice. Always ensure you speak to a regulated Financial Adviser before making any financial decisions.


Understanding the Basics of Estate Planning and Wills

Understanding the Basics of Estate Planning and Wills

“Legacy is not what I did for myself. It’s what I’m doing for the next generation” ― Vitor Belfort

3 min read

Understanding the Basics of Estate Planning and Wills

Understanding the Basics of Estate Planning and Wills

“Legacy is not what I did for myself. It’s what I’m doing for the next generation” ― Vitor Belfort

3 min read

Estate planning is a critical aspect of securing your assets and ensuring their distribution according to your wishes after you pass away. A fundamental component of estate planning is the creation of a will, a legal document that outlines how your assets and properties are managed and distributed among beneficiaries. That being said, it also includes considerations for potential incapacitation. Through tools like a power of attorney or a living will, you can outline preferences for medical care and appoint someone to make decisions on your behalf if you become unable to do so.

Such documents offer clarity and ease the burden on your loved ones during challenging times, ensuring your wishes are upheld in matters of healthcare and financial decisions. It’s not all just about loss of life or incapacity though, there are also opportunities to minimise taxes and expenses that would otherwise diminish the value of your estate. It is advisable to take professional advice where necessary to ensure you are operating on the optimal legal avenues to preserve wealth for your heirs. 

As a client of Patterson Mills, you gain access to not only our services, but all of our contacts you may need to have everything taken care of professionally and efficiently.

The Purpose and Components of a Will

A will acts as a blueprint for handling your estate after your death. It specifies who receives your assets, such as property, investments, personal belongings, and finances. Additionally, a will appoints an executor, an individual responsible for executing the terms of the will, and may include guardianship provisions for minor children where applicable. 

Moreover, a will allows you to express your preferences beyond asset distribution. It can outline funeral arrangements, charitable donations, and specific instructions for bequeathing sentimental items or heirlooms. This document serves as a means to clarify your intentions, alleviating potential conflicts or confusion among beneficiaries, ensuring your wishes are respected. The executor named in your will plays a crucial role in administering your estate.

They are tasked with managing the probate process, settling outstanding debts, distributing assets according to the will’s instructions, and representing your estate in legal matters. Carefully selecting an executor who is trustworthy, responsible, and capable of handling these responsibilities is pivotal to the smooth execution of your estate plan. Understanding these various components allows you to craft a comprehensive will that reflects your desires and safeguards your legacy.

Importance of Updating and Reviewing Your Will

Regularly reviewing and updating your will is crucial, especially after significant life events such as marriage, divorce, or the birth of children or grandchildren. These changes can impact your estate plan, necessitating amendments to ensure your will accurately reflects your current wishes.

Life is dynamic, and your will, much like your financial plan, should evolve in line with changing circumstances. Major life events like marriage, divorce, or the birth of children can significantly affect your assets and beneficiaries. Failing to update your will to include new family members or to remove ex-partners might result in unintended distributions or disputes. Similarly, changes in financial status, such as significant investments, inheritances, or property acquisitions, should prompt a review of your estate plan to ensure these assets are appropriately included.

Furthermore, legal developments or alterations in tax laws can also influence the effectiveness of your estate plan. Staying informed about legislative changes and seeking appropriate legal advice to align your will with the current legal landscape is vital. An outdated will might not only be insufficient but could also lead to complications during probate, delaying the distribution of assets and potentially resulting in unintended outcomes. 

Ensuring Legal Compliance and Seeking Professional Guidance

To ensure your will is legally sound and aligned with your intentions, it is worthwhile seeking legal advice from a qualified solicitor. A professional can provide invaluable guidance, clarify legal nuances, and assist in navigating complex estate laws, guaranteeing your will complies with legal requirements. If you are moving around multiple jurisdictions, you may also have to check local laws and where your will is written.

As well as our financial planning services, Patterson Mills has the contacts necessary to ensure every aspect of your financial life is cared for as efficiently as possible. So, get in touch with us today and book your initial, no-cost and no-obligation meeting, you will be pleased that you did. Send us an e-mail to or call us direct at +41 21 801 36 84 and we shall be pleased to assist you.

Please note that all information within this article has been prepared for informational purposes only. This article does not constitute financial, legal or tax advice. Always ensure you speak to a regulated Financial Adviser before making any financial decisions.


Creating a Financial Legacy: Wealth Preservation Strategies

Creating a Financial Legacy: Wealth Preservation Strategies

“What impact are you making, not only today, but for eternity? What impact are you making to leave a legacy?” ― Kirk Cousins

3 min read


Creating a Financial Legacy: Wealth Preservation Strategies

“What impact are you making, not only today, but for eternity? What impact are you making to leave a legacy?” ― Kirk Cousins

3 min read

Preserving and growing your wealth is a key aspect of financial planning, but it’s often overlooked in the quest for immediate financial success. We here to share with you the strategies you can implement to safeguard your wealth for future generations and create a lasting financial legacy.

Building a Strong Foundation for Your Legacy

Creating a robust financial legacy begins with asset diversification. Diversifying your investments by spreading them across different asset classes, such as stocks, bonds, real estate, and alternative investments, is the cornerstone of a successful wealth preservation strategy. Diversification helps reduce risk, ensuring your wealth remains stable and has the best possible chance of growing over the long term.

Diversification provides a cushion against market volatility. When one asset class performs poorly, others may thrive, helping balance your overall portfolio. The essence of diversification is not only to optimise returns but, as mentioned, to minimise risk. By utilising this strategy, you’re not putting all your eggs in one basket.

Moreover, asset diversification isn’t a one-size-fits-all approach. It’s an art as much as it is a science. Whether you’re more risk-averse or an adventurous investor, tailor your diversification to your specific financial objectives. Understanding the nuances of each asset class and how they interact will be key in your journey to fortify your legacy.

Ensuring a Smooth Transition of Your Wealth

Estate planning is the linchpin in safeguarding your wealth for the next generation. It involves creating a comprehensive plan for the distribution of your assets, establishing trusts, and designating beneficiaries. These steps can significantly minimise inheritance disputes and potential tax liabilities, ensuring a seamless transition of your wealth.

In estate planning, understanding the intricacies of wills and trusts is essential. It’s not just about deciding who gets what but also about how and when. Estate planning can include setting up revocable living trusts to avoid probate, creating irrevocable trusts for specific purposes, and assigning powers of attorney.

In reality, this does require more than just creating a will or setting up trusts. You must consider how assets will be distributed, when they will be made available, and how your financial affairs will be managed should you become incapacitated. Estate planning is akin to orchestrating a flawless performance – each instrument (or legal document) plays a crucial role in the grand finale.

Keeping More of Your Wealth Intact

Whilst taxes are inevitable, overpaying them isn’t. Tax optimisation is like navigating through a complex maze of financial regulations, aiming to preserve your wealth. It’s not about evading taxes but rather strategically managing them. Think of it as finding the most efficient route through the maze, where every legal deduction and tax-advantaged account is a valuable shortcut.

By mastering the art of tax optimisation, or indeed speaking with a professional, you can legally reduce your tax obligations. This means keeping more of your wealth intact and in your pocket, channeling it towards your financial legacy rather than into the government’s coffers. Whether it’s optimising your investments for tax efficiency or understanding tax-advantaged retirement accounts, the goal is to be a savvy traveler in the labyrinth of tax regulations.

A Legacy Beyond Your Family and Community

Charitable giving transforms your financial legacy into a force for good. It’s like planting seeds of prosperity in various communities, fostering growth that extends far beyond your immediate family. When you contribute to charitable causes, you create a legacy that radiates a sense of responsibility towards society and its well-being. It’s about participating in a shared journey towards a brighter future.

Charitable giving comes in various forms, each with its unique advantages. From donor-advised funds, which provide flexibility and control, to private foundations that offer an enduring philanthropic structure, your options are diverse. We’ll explore these avenues to ensure your wealth leaves a lasting impact and echoes your values, even beyond your lifetime.

Empowering the Next Generation

The baton is passed, but it’s essential that the next generation knows how to run the race. Providing your heirs with financial education is akin to imparting the wisdom of the ages, ensuring your legacy is in capable hands. You’re not merely transferring assets; you’re passing on knowledge – knowledge that empowers your heirs to be responsible stewards of your wealth.

This section isn’t just about discussing financial literacy; it’s about actively engaging in the process. Initiating conversations about money and creating a structured educational program are as important as setting up trusts. By equipping your heirs with the tools, resources, and wisdom to manage their finances, you cultivate a sense of responsibility that extends well into the future.

Staying Agile in an Ever-Changing Financial Landscape

Just as the world evolves, your wealth preservation strategy must adapt. Regular reviews and adjustments are the lifeblood of your financial legacy. Consider it as steering a ship through uncharted waters. Periodic reviews aren’t just about checking off a list; they’re about assessing the changing winds and currents in the financial landscape.

Remaining agile means you’re well-prepared for unexpected shifts. It’s about being proactive and not reactive. This final section isn’t just about acknowledging the necessity of reviews; it’s about embracing them as an integral part of your financial journey. Staying ahead in the ever-evolving financial landscape ensures your legacy retains its vitality, remaining as enduring as the principles it stands on.

Patterson Mills are your reliable partner to ensure your wealth passes through the generations with ease. Get in touch with us today and book your initial, no-cost and no-obligation meeting, you and your family will be pleased that you did. Send us an e-mail to or call us direct at +41 21 801 36 84 and we shall be pleased to assist you.

Please note that all information within this article has been prepared for informational purposes only. This article does not constitute financial, legal or tax advice. Always ensure you speak to a regulated Financial Adviser before making any financial decisions.


Insurance 101: Protecting What Matters Most

Insurance 101: Protecting What Matters Most

“If there is anyone dependent on your income – parents, children, relatives – you need life insurance” ― Suze Orman

5 min read

Insurance 101: Protecting What Matters Most

“If there is anyone dependent on your income – parents, children, relatives – you need life insurance” ― Suze Orman

5 min read

You wouldn’t hike a mountain without the appropriate gear, nor jump out of a plane without a parachute. Insurance is exactly like that hiking gear or parachute, a safety net for your financial wellbeing. It provides you with protection and peace of mind, ensuring that you and your loved ones are financially secure, even if the unexpected happens.

What is Insurance?

Other than a financial safety net, insurance is a financial contract between you and an insurance company. You pay regular premiums, and in return, the insurer promises to provide financial support when specific events, known as “covered events,” occur. The goal of insurance is to protect you from potential financial losses related to these events.

The Frequency vs Impact Matrix

An important part of the financial planning process is to identify different types of risk and to plan accordingly. Some risks are best managed while others are best insured. The risk that a casual passer-by will walk into a person’s home and steal the cash sitting on the hall table is best managed by keeping the front door locked and putting large sums of money out of sight. But the more remote risk that a determined burglar might break in and steal valuables is best left to insurance.

The most common way to categorise different types of risk is according to their severity of impact as well as their likelihood of occurrence. Some events are very likely to occur but may not be so important in terms of their impact on a person’s life. Most people might cut their finger or graze their knee from time to time, but any cost is likely to be relatively low or non-existent. Some events, such as the house burning down, can be disastrous but happen very rarely. Insuring against minor and frequent risks may be expensive and pointless, but it generally makes sense to insure the high impact but low frequency type of risk, where an insurer is prepared to cover through an insurance policy. The main events that have a high potential impact on individuals and their families are death and disability, which should be the top priorities for insurance-based solutions.

The above is best illustrated with the simple Frequency-to-Impact Matrix as below:

Frequency-Impact-Matrix - Insurance 101

What the above matrix is showing is that an event such as a minor injury (non-severe scrapes of your knee or cuts on your hand) would fall into the bottom right box. These can typically be ignored or easily dealt on a day-to-day basis.

The high frequency and high impact could include periods of unemployment, especially for certain sectors. Insurance for these occurrences can be expensive or you may not find insurance companies willing to cover these events. Thus, this type of risk is best ‘managed’. In the example of unemployment, it would be advisable to accumulate a ‘rainy day fund’ or savings pot whilst you are employed to ensure sufficient financial support is available when you need it most.

Low frequency but high impact could include retirement. Generally, you will only retire once, but the impact of stopping work and losing an earned income is often very high. In this example, saving money towards retirement (such as pensions and investments) can generate a sufficient income during and throughout your retirement. In addition, other low frequency but high impact events (such as your house burning down or premature death of a family member) can have severe financial consequences. Most people find it difficult to build up a sufficient savings fund to support themselves during such a potentially expensive time.

The Frequency-to-Impact Matrix can be summarised as follows:

  • Low Frequency but High Impact = Insure
  • High Frequency and High Impact = Manage or Insure (if possible)
  • Low Frequency and Low Impact = Easily Manage or Ignore
  • High Frequency but Low Impact = Easily Manage or Ignore

Why Might You Need Insurance?

The importance of insurance becomes evident in the face of life’s uncertainties. You may be asking yourself why you might need insurance, and the reasons are multifaceted and compelling. Insurance serves a multitude of purposes in your life, such as shielding your financial wellbeing, helping you comply with legal requirements, and providing a significant source of peace of mind.

The financial protection that insurance offers cannot be underestimated. It acts as a crucial safety net that can help you and your family stay financially secure, even in the wake of an unexpected event, like a medical emergency or a natural disaster. Additionally, the legal obligations surrounding insurance, such as mandatory health insurance in many places, underscore the significance of these financial agreements in your daily life.

Knowing that you and your loved ones are financially protected provides comfort and security, alleviating some of the stress and anxiety that can often accompany life’s uncertainties.

What Are The Main Types of Insurance?

There is a diverse range of insurance products available to suit the many unique aspects of your life. The landscape of insurance is vast and varied, and it’s important to explore the various types of insurance available to understand which policies align with your individual needs and circumstances.

A. Health Insurance

Health insurance is your financial safeguard in the realm of healthcare. Its primary role is to cover medical expenses when you require medical treatment or attention. Health insurance comes in various plans, each offering different levels of coverage and financial protection. Depending on your specific health needs, you can choose the plan that best suits your health and financial requirements, helping you navigate the complex and often costly world of healthcare with greater ease.

B. Life Insurance

Life insurance provides you with a unique form of financial support. It is designed to offer a financial lifeline to your beneficiaries in the event of your passing. There are two primary categories of life insurance: term life insurance and whole life insurance. Each category is equipped with distinct features, and your choice between them depends on your financial goals and life circumstances. By securing a life insurance policy, you take a proactive step towards ensuring that your loved ones remain financially stable, even in your absence.

C. Homeowners / Renters Insurance

For many people, their home is not just a physical space but a haven of personal and sentimental value. Homeowners or renters insurance is an essential form of protection for your abode and the belongings within. These policies provide financial security against potential risks, including property damage and theft. They also extend to personal liability coverage, helping you mitigate financial risks associated with accidents that occur on your property. Whether you’re a homeowner or a renter, safeguarding your dwelling and your personal possessions through insurance is a prudent and necessary step in securing your financial future.

D. Car Insurance

Car insurance is a type of financial protection specifically designed for drivers. It offers a comprehensive safety net in the event of car accidents, covering damages to your vehicle and personal injuries. Car insurance typically includes various components, such as liability insurance, which covers expenses related to injuries or property damage caused by your vehicle, as well as collision and comprehensive coverage, which helps mitigate the financial implications of accidents, theft, and more. If you own a vehicle, auto insurance is not just a choice but a legal requirement in most places.

E. Travel Insurance

Travel insurance is your trusted companion when you embark on a journey. It serves as a protective shield for your travel investment, ensuring that you enjoy a worry-free trip. This form of insurance covers a wide array of unexpected events that could disrupt your travel plans, such as trip cancellations, medical emergencies while abroad, lost luggage, and even flight delays. By investing in travel insurance, you can experience the world with greater confidence and financial security, knowing that you are prepared for any unexpected twists and turns during your adventures.

F. Winter Sports Insurance

Winter sports insurance is a specialised form of coverage for those who enjoy the thrills of activities like skiing, snowboarding, and other winter sports. These insurance policies are tailored to provide protection against accidents, injuries, or other mishaps that can occur while you’re out on the slopes. With winter sports insurance, you can enjoy your snowy adventures without worrying about the potential financial consequences of unexpected incidents during your outings.

How to Obtain Insurance

Now that we have revealed to you the potential significance of insurance in your life, you may be wondering where and how you can obtain the coverage that fits your unique needs. The process of securing insurance can vary depending on the type of coverage you require. Here’s a general outline of how to obtain insurance:

1. Identify Your Needs: The first step in obtaining insurance is identifying your needs. Determine what aspects of your life or assets require protection. For example, if you own a car, auto insurance is essential. If you have dependents, life insurance should be considered. Evaluate your personal circumstances, financial goals, and lifestyle to pinpoint the types of insurance that will offer you the most value.

2. Shop for Insurance Providers: With a clear understanding of your insurance needs, you can start shopping for insurance providers. It’s crucial to research and compare various insurance companies to find the one that aligns with your requirements. Consider factors such as the company’s reputation, financial stability, customer service, and the specific policies they offer.

3. Consult with a Financial Adviser or Insurance Broker: Financial Advisers and Insurance Brokers are professionals who can help you navigate the complexities of insurance. They communicate and work with multiple insurance companies and can offer you a range of policy options. Consulting with a Financial Adviser or Insurance Broker can save you time and help you find the best coverage at a competitive price. They can also explain the intricacies of different policies and assist you in making an informed decision.

4. Obtain Quotes: Once you’ve identified potential insurance providers, request quotes from them. Quotes provide you with estimates of the premiums you’ll need to pay for the coverage you desire. This allows you to compare costs and choose the most cost-effective option. Be sure to provide accurate information during the quoting process to receive precise estimates.

5. Understand Policy Terms (READ THE CONTRACT): Before finalising your insurance purchase, carefully review the terms and conditions of the policy. Pay close attention to aspects like coverage limits, deductibles, exclusions, cancellation policy and any additional benefits. Ensure that the policy addresses your specific needs and goals.

6. Make Informed Decisions: Based on the information gathered during your research, consultations, and quote comparisons, make informed decisions about your insurance coverage. Select the policies that offer the best value and protection for your individual circumstances.

7. Complete the Application: Once you’ve made your selections, you’ll need to complete an application for the chosen insurance policies. The application typically requires you to provide detailed information about yourself, your assets, or the individuals you’re insuring.

8. Pay Your Premiums: Insurance policies require regular premium payments. The frequency and method of premium payments can vary depending on the policy and provider. It’s essential to make premium payments on time to maintain continuous coverage.

9. Review and Update Your Policies: Life is dynamic, and your insurance needs may change over time. It’s crucial to periodically review your insurance coverage and make necessary updates to ensure it continues to meet your financial goals and circumstances.

10. File Claims When Needed: In the unfortunate event of a covered incident, you’ll need to file a claim with your insurance provider to receive financial assistance. The claims process will depend on the type of insurance and the specifics of your policy. Familiarise yourself with the claim procedures so that you can efficiently receive the support you need during difficult times.

A Prudent Financial Decision

Now you know the basics of how to get and the key types of insurance. Taking out an insurance policy is a prudent financial decision that offers you and your loved ones peace of mind and protection against the unpredictabilities of life. Of course, there may be those for whom insurance might not be possible due to various factors, but always try to ensure your needs are insured if you can. Insurance safeguards your financial wellbeing and ensures that you are prepared for unexpected events.

Choosing the right coverage for your needs is a significant step in securing your financial future and that of your loved ones. Patterson Mills are here to make sure your family are taken care of in the best of times as well as the not-so-good ones. Get in touch with us today and book your initial, no-cost and no-obligation meeting, you and your family will be pleased that you did. Send us an e-mail to or call us direct at +41 21 801 36 84 and we shall be pleased to assist you.

Please note that all information within this article has been prepared for informational purposes only. This article does not constitute financial, legal or tax advice. Always ensure you speak to a regulated Financial Adviser before making any financial decisions.


Don’t Give Up Your Protection Policy

Don’t Give Up Your Protection Policy

“At the end of the day, the goals are simple: safety and security” – Jodi Rell

1 min read

With households facing the biggest squeeze on their incomes in many years, it’s understandable that families are looking for ways to cut costs.

When looking to cut back, reviewing subscriptions and direct debits (for example, for streaming services, food subscription boxes or gym memberships) is often a good place to start, but there is one cost that you shouldn’t be so quick to give up.

Protection is Vital

As tempting as it is to cancel protection insurance policies, times of financial difficulty are exactly when we need protection the most. Many policyholders aren’t aware that life insurance cover can be flexible, and there are ways to reduce your cover rather than cancelling it outright.

Get Help

Get in touch today and book your initial, free, no-obligation meeting. You have nothing to lose and potentially lots to gain! Send us an e-mail to, call us direct at +41 78 214 84 32.

Pensions Protection

Protect Your Retirement From the Risk of Mental Decline

Protect Your Retirement From the Risk of Mental Decline

"Retirement: That's when you return from work one day and say, 'Hi, Honey, I'm home—forever'"

3 min read

Retirement – that magical time when we can finally live our lifelong dreams. Increased life expectancy means that many of us can now expect a longer retirement, but this comes at a cost: the increasing prevalence of age-related cognitive decline, which could leave us vulnerable to costly financial errors.

According to the Alzheimer’s Society1, estimates suggest that between 5% and 20% of over-65s suffer from mild cognitive impairment (MCI), a condition in which someone has minor problems with cognition, such as memory or thought process.

Protecting your finances

Planning for the possibility of cognitive decline is an essential part of preparing for retirement. Although many people still have the capacity to live independently and make decisions for themselves, MCI has been linked in scientific studies to poorer financial capacity and an increased susceptibility to scams.

Getting the timing right

Over 80% of investors surveyed2 thought the ideal time to transfer financial control would be ‘sometime after they had begun to experience some cognitive decline but before they became completely incapable.’ Respondents thought there was a higher than one-in-three chance of a mistimed transfer, partly attributable to a reluctance to relinquish control, which exemplifies the need to start planning sooner rather than later, so that any future transfer takes place on your terms.

Opening up conversations

Although it may feel awkward, preparing for the possibility of cognitive decline requires careful planning, not only having legal documents in place but also starting conversations with your family and those you trust about money and your goals for the future, in advance of its possible onset. This means that everything is out in the open and close connections are more likely to notice if you begin making decisions about your money that appear to contradict your objectives.

We can assist you with planning and in starting these conversations with your family well in advance and help you better plan for the future, giving you a greater sense of ownership and control over your plans.

Get in touch today and book your initial, free, no-obligation meeting.

You have nothing to lose and potentially lots to gain!

Send us an e-mail to, call us direct at +41 78 214 84 32, or fill in our contact form below.

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1Alzheimers Society, 2019

2Vanguard. 2021