Financial advisers aren’t shaken or stirred by Bond actor’s estate plan

by | Oct 8, 2021

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Financial advisers haven’t found themselves shaken or stirred by James Bond star Daniel Craig’s plan not to have much cash left to pass on to his children by the time he dies.

A survey of 173 Personal Finance Society members showed most financial advisers won’t be following the 007 actor’s lead as 54 per cent cited “providing for loved ones” as their estate planning priority.

The social media poll, which took place in September, asked Personal Finance Society members to share their own estate planning priorities and revealed while they regularly consider inheritance or charitable giving for their clients, one in five have yet to use their expertise to formulate a plan to ensure their own family, dependents and causes close to their hearts are provided for once they are gone.

 
 

The survey also showed 24 per cent of financial advisers consider paying off debt as their number one estate planning priority and just 3 per cent were currently focussing their approach on supporting a charitable cause.

Sarah Lord, President of the Personal Finance Society, said: “While Daniel Craig may have been reported as saying he finds passing on wealth to be ‘distasteful’, estate planning is vital to ensure your loved ones and causes you support during your life don’t have to worry about tax bills and how they can continue without your support once you are gone.

“The fact one in five of our members said they have yet to do their own estate planning is concerning. Managing your own assets is important and being secure in your own financial future is important if you are going to be confident when advising your clients how to manage their own money.

 
 

“While nobody likes to think about death – indeed, as the latest James Bond film title alludes to there is no good time to die, ensuring your own estate is in order means you can get on with living without worrying what will happen to those you care about when you are no longer here.”

 

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