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Hello there, I’m Stuart Morton. My wife Ellen and I consider ourselves the epi-centre of our little family. Elderly parents above us. Assorted sons, daughters, their partners, and grandkids, either side. No wonder they call us the ‘sandwich generation’. We’re literally sitting in the middle.
The modern family. There’s nothing quite like it, is there? Equal parts joy and mayhem. If your lot are anything like ours, you’ll know that along with the good things about family life come the tougher calls and curve balls. ‘Expect, the unexpected’ should be our family motto. How about you? Just the same? I thought so. That’s why I’d like to share a few insights into my life. It might all sound very familiar.
Just as our needs are individual and change over time, so too are the strategies and services we’ve managed to put in place with the help of the experts at Morton Fraser. One family. Four generations. Through it all we’ve got each other. Best of all, we’ve now got a plan. So, how about you?
Use the grid below to find out what each of us is up to.
Stuart Morton - May
My family - a year in review
What exactly has happened over the course of the year?
The family have certainly had a year full of life’s ups and downs. Weddings, births, house moves, health issues, early retirement, and business expansion – you name it we’ve been through it.
But would any of it worked out the way it has without Morton Fraser as our trusted advisor?
I invite you to recap on the goings on over the last year, perhaps there’s something in there for you?
Hannah and I went into Morton Fraser to talk with Sue about Inheritance Tax planning. It seems that if you get your ducks lined up you reduce the impact quite significantly. This coincided nicely with our wish to help pay for the grandchildren’s school fees by setting up a trust. It was then a straightforward discussion about what we could afford. We were also keen to set up a Power of Attorney as many of our friends have at this stage of their lives.
Daddy-daughter lunch the other day. I know dad has sorted my brothers out with money, he was holding off on me as the er…‘unsettled one’. That’s cool – I totally understand.
I’m so lucky that he can help us all out and the money he’s gifted me is going to pay off a massive chunk of my mortgage. #peaceofmind as I would have needed to re-mortgage to fund the Oz trip.
Dad really likes Ryan, but quite rightly he’s reminding me of the practical stuff. I own my flat so I suppose I should think things through – just in case they go pear-shaped in future years. Good that I can go and see Dad’s lawyers to give me some advice. I’ve made an appointment to hear about the things I should be thinking about. Dad says it can help me plan all the legal and financial things as my life changes.
Growing family. Time to move up the property ladder
Dad took me out to wet the baby’s head and told me he’s gifting Sarah and I £50,000. Amazing. His pensions lump sum has helped him be so generous. The timing couldn’t be more perfect as we’re moving. Thanks dad. Thanks mum. But where to start? Stay central in Edinburgh or head out to the coast in East Lothian?
Boy, that money from Dad couldn’t have come at a better time.
So generous of him, I know how hard he’s worked for it so I need to spend it wisely. I’ll see the team at Morton Fraser again I think, they were great with Jude’s redundancy situation. I’ll see if they can help me. Paying the mortgage off a bit would help, so we’ve less to worry about each month.
Amazing how effortlessly Stuart has taken to retirement. Up early on his morning run each day. Stepping up as a Grandad to little Herbie – grandson number three! Pleased as punch he has ‘Stuart’ as his middle name, of course. I’ve never seen him so energised.
As for me, I need to free up some time. My mind is made up. I must step back from business. This may be fate, but Jude has just taken redundancy – with his knowledge of early 20th century antiques and especially art he could be the missing piece in the jigsaw. He’s always bursting with ideas.
Time for a chat with Morton Fraser to see what business succession planning support they can give me.