Wealth is one of the most important things any person or company can have. It needs to be cared for and managed responsibly, to avoid possible insolvencies or risks that could lead to liabilities or debts devouring the assets, right up to bankruptcy. In such circumstances, it is necessary to have the best wealth planning advice to keep our assets safe.
At BBMabogados we have the best wealth planning advisers, so do not hesitate to contact us to offer you the best personalised assistance according to your particular requirements.
Why turn to wealth planning in Santander
The first thing to remember is that wealth is made up of assets, but also of liabilities or obligations, so it is necessary to know and assess the type of commitments that must be honoured on account of the assets, from obligations to other individuals to obligations towards the tax authority. For this reason, there is nothing better than a wealth planning adviser who knows the tax obligations, as well as the best way to handle debts with other creditors.
Let us not forget that there are countless legally acceptable mechanisms that make it possible to obtain reductions and exemptions on debts, so there is nothing better than having experts who set out the right strategy to follow in order to achieve a fair payment of our debts.
But it does not all end with reductions and exemptions. In this respect, by turning to a financial adviser we will manage to protect our assets against potential risk situations. In any case, there is nothing better than having the services of an expert who knows the markets and tells us how safe one market or another in which we are taking part is.
The wealth profile
Every set of assets reflects the characteristics of its owner, so, regardless of whether it is a company or an individual, it will first be necessary to analyse the profile of their financial reality.
In this respect, it should be remembered that everyone has different attitudes towards their assets; from those who have a conservative attitude and prefer to take on as little risk as possible with regard to their capital, to those more daring who prefer an investment portfolio with a high return but with much greater risks.
As a result of the above, the first thing to do during wealth planning is to establish this profile, since the appropriate investment strategies will be set based on it.
Within this profile, in addition to the investor’s circumstances, the financial capacity and tax obligations to which the owner of the assets must respond should also be assessed. Likewise, it is necessary to check their capacity for taking on debt, their ability to pay and the types of outstanding obligations.
Investments and financial strategies
Once the investor’s profile is known, our team of specialists will begin to suggest the best strategy for the distribution of your assets. This is also known as “diversifying the investment”. In this respect, it should be remembered that there are different financial instruments in which to place money.
In fact, it should be remembered that most of the time we may think of keeping our assets as fiat money in a bank account; however, it should be remembered that this mechanism is the one that generates the fewest returns. In any case, let us remember that in the investment market there are different financial instruments such as fixed income, equities, mutual funds, among many others.
In any case, the idea is for the assets to be as diversified as possible, so that, in the event of insolvency problems or market volatility, the capital is not affected.
In turn, this distribution of capital will be accompanied by the corresponding investment strategy, which will be the guide as to when and in which instruments the assets should be placed.
New markets and business opportunities
The globalisation of the economy and the emergence of new technologies in the financial world are causing practically new investment alternatives to open up every day, so there is nothing better than turning to a wealth planning adviser who tells us what type of investment we can direct our assets towards.
Now, these recommendations are personalised and reflect the reality of each person or company, so do not hesitate to contact us to assess your situation.
What is wealth planning?
Wealth planning is the legal and tax management of all of your assets: analysing your assets, rights and debts as a whole in order to protect, organise and make the most of them with certainty. It is not limited to investments; it combines the financial view with knowledge of civil and tax law, so that every decision takes into account its legal impact and its tax cost.
In practice, this means studying your profile, ordering your obligations towards the tax authority and other creditors, and anticipating risk situations before they become a problem. At BBM Abogados, a firm in Santander since 1990, we design each strategy on a personalised basis according to the reality of each client in Cantabria.
Estate planning and asset protection
Well-managed wealth is also thought out over the long term. Estate planning consists of ordering, during your lifetime, how your assets will be passed on in order to avoid family conflict and unnecessary tax burdens, relying on tools such as a well-drafted will and on knowledge of Inheritance Tax. You can read more on our page on succession and inheritance in Santander.
Alongside this, we work on asset protection: organising your assets in advance to reduce their exposure to unforeseen events and creditors, always within the law. Planning in time is the best guarantee of peace of mind. Tell us about your case with no obligation.
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