Keeping it in the family
What does wealth protection mean to you?
Few would argue that family is what matters most to them. Trying our hardest to make sure that our loved ones have stability and opportunity is what drives us. We work for decades to build savings, buy homes and invest for the future. That enables us to lead the lifestyle we want and gives those we love the best chance to be happy and secure.
Although it’s not always an easy subject to discuss, it’s also natural that we want to pass on as much as we can to the next generation when the time comes. Creating that legacy provides the peace of mind that we’ve helped secure their future.
That all sounds great, but the reality is that none of us know what’s around the corner.
Death or serious illness could strip away in an instant the financial security and peace of mind we’ve spent years creating.
But with the right protection in-place, regular investments and pension contributions can continue, and there's no need to dip into your hard-earned savings.
That’s why wealth protection is so important. In short, it turns financial effort into lasting financial security. It ensures that you and your family are protected against unforeseen and potentially devastating events.
Protection options
There is no one-size-fits-all wealth protection plan. There are a number of ways to safeguard your wealth for the future, with different strategies tailored to your needs and preferences.
Income protection. Income protection pays a regular monthly income if you can’t work due to illness or injury.
Critical illness cover. How would you family cope if you suffered a serious illness or injury and were unable to return to work soon, or indeed ever? Critical illness pays a tax-free lump sum if you are diagnosed with certain serious medical conditions.
Life insurance. Are you insured for what you’re really worth to your family? After all, you are your family’s most valuable asset. Life insurance is a simple and effective way to help your dependents cope financially if you die.
Making a will. The foundation of effective wealth protection is having an up-to-date will in place to avoid confusion, upset and potentially, an unnecessary tax bill.
Appoint a Power of Attorney. You can save your family a lot of money and distress by making sure someone can act on your behalf if you become unable to manage your affairs.
Inheritance Tax planning. Inheritance Tax can have a big impact on your legacy, but early planning can help your family avoid a large tax bill when you die.
Trust planning. Trusts can be a complex but used appropriately they ensure the right money goes to the right people, at the right time.
Wealth protection isn’t a one-off exercise. Ongoing reviews and the professional advice will ensure your plan keeps pace with changing markets, family circumstances and legislation, allowing you and your loved ones to keep what you’ve built.
Death or serious illness could strip away in an instant the financial security and peace of mind we’ve spent years creating.
But with the right protection in-place, regular investments and pension contributions can
continue, and there's no need to dip into your hard-earned savings'.
Will writing, power of attorney and trust planning is not regulated by the Financial Conduct Authority.
HM Revenue and Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes which cannot be foreseen.
Approved by 2plan financial management Ltd on 11/06/2026
Miller James Financial Planning Ltd is an appointed representative of 2plan Wealth Management Ltd which is authorised and regulated by the Financial Conduct Authority. Miller James Financial Planning Ltd is entered on the FCA register (www.fca.org.uk) under 972481. Miller James Financial Planning Limited is registered in England & Wales no. 08844794. Registered Office at Delta 606 Welton Road, Delta Office Park, Swindon, SN5 7XF.