Principal: D Woodruff. Woodruff Financial Planning is Authorised and Regulated by the Financial Services Authority. This document is forinformation only, and does not constitute financial advice. This document is aimed at United Kingdom residents only.

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Case StudySudden WealthSummary:We helped a couple who had just received a sizeableinheritance to work out how this money would changetheir lives. They needed to be reassured that thismoney would enable them to set up homes in the UKand France and that they would have enough income tosustain this lifestyle. By creating a comprehensivefinancial plan we were able to demonstrate that theyhad enough money to achieve their dreams and to beable to retire.

Background:An existing client received a sizeable inheritance ofnearly £2 million. They needed help to manage thiswindfall since they had not previously had access tosuch wealth. They required help to put their financialaffairs in order and to work out what this meant for theirfinancial security.

Problems/Challenges:The clients’ priorities were to pay off their existingmortgage, to renovate their existing home and to buy aholiday home in France. After this they wanted toensure that they had enough money left over to fundtheir future lifestyle.

They were intending to spend a sizeable period of timeliving in France each year although they intended toremain UK residents. Therefore we needed to makeallowance for the fact that they had a potentiallycomplicated tax situation.

Our approach:In our first meeting we created the clients’ life plan,thinking ahead towards their future aspirations andchallenges. This enabled us to know what motivatedthem and also to understand their current situation sothat we could fulfil all their ambitions.

Following this we gathered all the data we needed tofully assess their situation and create a financial plan toshow them the implications of decisions such as buyinga property in France and how this would impact on theirfuture lifestyle.

We then created a portfolio of investments to providethem with a tax efficient income which could fund theirlifestyle while taking the minimum level of risknecessary to meet their goals.

Outcomes and Impact:The clients were able to make sense of this suddenwealth and put in place a plan to manage this money.This took away the potential stress of managing such alarge amount of money and also helped them tounderstand that they could afford to retire now andachieve the lifestyle they wanted.

We helped them to understand how investments work andput in place a portfolio to provide them with enoughincome to live the life they desired.

We referred them to an international tax specialist whowas able to work with us to ensure that their holiday homedid not adversely impact on their tax situation.

Continuing Support:Each year we schedule two reviews with the clients. Thefirst is to re-evaluate their financial situation and revisetheir financial plan so that we can take into account anychanges to their circumstances and re-assess whetherthey remain on target to meet their long-term goals.

The second meeting reviews the clients’ investmentportfolio and aims to keep it on track towards its goalswhile taking the least risk needed to do so.

Please contact usfor further details:

Woodruff Financial PlanningThe Colchester Centre, Hawkins Road,Colchester, Essex CO2 8JX.Email: advice@woodruff-fp.co.ukFax: 01206 266885

Tel: 01206 266882www.woodruff-fp.co.uk