No romance without finance: how to say ‘I love you’ with financial planning

by Infinity

Financial planning can be romantic!

While romance and financial planning don’t sound like likely bedfellows, I can’t think of a more powerful way to say ‘I love you’ than by pledging to look after your other half financially, through thick and thin.

Think about it! Which shows greater love and commitment: a hastily scribbled card and a mediocre meal in the company of other couples forcing themselves to have a romantic time, or knowing that someone cherishes you enough to take steps to ensure your financial security now and in the future?

Here are two ways to marry romance and finance!

1. ‘Til death us do part

With life insurance, you can go one better than the ‘til death us do part pledge of traditional wedding vows and protect your partner from beyond the grave!

If you’re in a serious long-term relationship, life insurance is a key tool to ensure that your loved one is financially secure even if you’re no longer there to contribute to the finances.

A lump sum payment won’t make up for the loss they have suffered but it will enable them to maintain their standard of living and avoid having to make major life changes at a stressful time. That’s one hell of a way to show undying love.

1. All that I have I share with you….

… except if the taxman gets his hands on it! If you don’t take the time to understand the inheritance tax laws that apply to you and plan accordingly, your partner could end up with a much smaller part of your estate than you intended.

UK expats married to partners of other nationalities, in particular, should be wary of this. While  interspousal transfers between two UK-domiciled individuals are exempt from UK IHT, this is not the case if your spouse is not UK-domiciled.

Whatever your situation, a will is essential to make sure that there is no misunderstanding about the distribution of your estate that could delay probate and cause financial difficulties for your partner.

Cross-border estate planning is complicated. To find out the best ways to protect your legacy and prove just how much you love your partner, it is best to take professional financial advice.

When it comes to romantic gestures, unequivocally proving your long-term commitment to someone by sorting out these two elements of your financial planning speaks volumes.

A bottle of bubbly or a bunch of roses wouldn’t go amiss as well though!

Alex has extensive experience in helping expats in Asia with life insurance, will writing and estate planning as well as medical insurance, saving and investing for retirement and education fee planning. 

Drop Alex a line today to discuss your financial planning requirements.

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Evelyn Partners is an award-winning financial planning and investment company that builds on a heritage of more than 186 years. They have won numerous awards and their clients include private individuals, families, charities and professionals.

They presently look after more than GBP50 billion and 172,000+ clients.

At Evelyn, your personal wealth is their personal responsibility.

Evelyn's award-winning services are now available in Asia exclusively through Infinity, and can be applied to new and (probably) existing investments.

To learn more, drop Alex a line, today.

Get in touch with Alex here or at [email protected]