Gaining clarity through financial confidence and empowerment
Financial education is of significant importance for high-net-worth women to empower them with the knowledge, skills and confidence to take control and protect their wealth.
Our research indicates that women under 45 are more proactive in educating themselves about investing; 55% have sought information on Wills, 52% on pensions, yet only 20% have looked into tax planning. Furthermore, one in three women expressed uncertainty when it comes to maximising business or personal tax reliefs. As the general election nears, it presents a prime opportunity for women to remain well-informed and to understand potential legislative changes that could impact their wealth structuring strategies.
The areas where women have actively sought education to gain more financial independence:
Wealth education
The areas where women have actively sought education to gain more financial independence:
Furthermore, we discovered that 10% of the women we surveyed actively educated themselves on the "use of Trusts" and only 4% felt confident in making decisions about Trusts. Trusts hold immense potential for effective Inheritance Tax planning and gifting to children, offering opportunities to preserve and grow wealth.
Naomi Neville
Partner, Lifetime and Estate Planning
Partner, Lifestyle and Estate Planning
Trusts can feel overwhelming in complexity and legal language, but with the right support they are really effective tools to legitimately protect and control wealth. Whether this means setting up a simple trust for your children, or organising a complex offshore tax mitigation structure, we have the experience and expertise you need to ensure the best results.
Legal and financial matters women feel confident in making decisions on (without seeking any professional advice):
Legal and financial matters women feel confident in making decisions on (without seeking any professional advice):
At Irwin Mitchell, we have a dedicated team of advisers ready to provide guidance and help you navigate through these complexities, including wealth structuring. Together, we can assist in unlocking the full potential of your financial opportunities and empower you to achieve your goals.
Zahra Pabani
Partner, Family
Women with wealth are increasing in numbers and treating everyone with the same respect, no matter what their circumstances is something Irwin Mitchell recognise. Understanding the situations facing women is important, we’re using our experience to listen to what they need and then use our skills to empower them to do more that they might have thought possible and delivering their financial objectives in the way that matters most to them.