Estate Planning
Estate planning is a logical extension to the financial planning process.
Having put your financial plan into place to ensure your family's future financial security, estate planning can be a tax efficient means of transferring your assets. .
At its core, estate planning aims to lessen the stress for grieving families during an already painful time.
In essence, estate planning involves three basic elements: deciding how an estate will be divided; making or modifying your will; and providing the means to ensure that your wishes can be carried out.
A well-constructed estate plan entails much more than making a will. It may, for example, include: appointing a power of attorney - one person or a group of people you trust to look after your financial and business affairs; establishing a discretionary or family trust to protect your wealth; establishing a testamentary trusts to reduce your family's tax liability after the main breadwinner's death ; and appointing a trustee and/or executor to carry out your wishes as per your will.
