Lump Sum Settlement Planning
If you have received a large sum of money because of an unexpected event in your life, it can be hard to know what to do next.
Cadre Capital Partners have extensive experience guiding clients through:
- A divorce or separation
- An inheritance
- Selling a property or business
- An insurance payout
- An employment severance package
- A compensation payment for personal injury, or other legal settlements
- Lottery wins.
Suddenly having to decide what to do with a large amount of wealth can be more stressful than you may expect. This is especially true for those who have received the payment because of divorce, the death of an immediate family member or employment termination.
These are times when people are already experiencing a high level of stress. In such circumstances, it can be difficult to make good financial decisions amid emotional turmoil.
In our experience, we’ve found that those who have recently gained a sudden increase in wealth need the most assistance with:
- Understanding the legal, financial and tax implications of their new growth in wealth
- Understanding what investment choices are available and what is appropriate for them
- Ensuring that their new wealth sustains them for a lifetime as they work towards their financial goals
- Assessing the impact of making large lump sum purchases (such as buying or upgrading your home) on their ability to provide for their income needs over the long-term
- Determining if it is appropriate to use your lump sum to repay debt or to invest.
It can be easy when you’ve received a sudden growth in wealth to be tempted to spend it all at once. However, doing this may limit the choices you have available to you in the future. Instead, by waiting on making any big decisions and seeking professional advice on what to do, your sudden wealth can be used to help you secure a brighter financial future.
Our key role as financial advisors is to be a guide through major life changes. Our expert financial advisors work together with your accountant and attorney in your best interests for the best financial outcome.
