How Solicitors Can Help Baby Boomer Clients Manage the Great Wealth Transfer

The “Great Wealth Transfer” is a term used to describe the historic transfer of wealth from baby boomers to younger generations, with over £5.5 trillion expected to be passed down by 2050. This shift presents challenges and opportunities for families planning their estates and the professionals who support them.

How OLS Solicitors Can Help

At OLS Solicitors, Lucy Batstone specialises in guiding baby boomer clients through the complexities of estate planning, ensuring their wealth is transferred smoothly and according to their wishes. Here’s how she can help:

1. Simplifying Estate Planning

Many people find estate planning overwhelming. Lucy helps clients draft clear, legally sound wills and establish trusts to protect their assets. She ensures everything is in place to prevent disputes and unnecessary stress for loved ones.

2. Minimising Tax Liabilities

Taxes can significantly reduce the value of inherited wealth. Lucy works with clients to explore options like gifting assets, setting up tax-efficient trusts, and making charitable donations to minimise inheritance tax and protect beneficiaries.

3. Encouraging Open Family Discussions

Talking about inheritance isn’t easy, but open communication can prevent misunderstandings. Lucy helps clients have these important conversations, ensuring everyone understands the plan and feels included.

4. Preparing for Long-Term Care Costs

Planning for future care needs is an essential part of managing wealth. Lucy helps clients account for these costs to avoid unexpected financial strain later in life.

Why Choose OLS Solicitors?

With years of experience and a client-focused approach, Lucy and the team at OLS Solicitors make the estate planning process straightforward and stress-free. They work closely with clients to create tailored solutions that ensure their wealth is preserved and passed on as intended.

If you’re looking for professional guidance on managing your estate, contact OLS Solicitors today. We’re here to help you every step of the way.