The purpose of Estate planning is to structure your Estate to limit the impact of succession on your assets when passing them to the next or subsequent generations. Key areas are:
Planning By having thought through your wishes and communicated them to those concerned the process will be smoother when the time comes for them to take over control.
Tax Taking measures to reduce the amount of tax payable to the minimum is the standard strategy to ensure the maximum amount of wealth is transferred.
Trusts A trust is a useful tool which enables the person establishing it to have influence in the management and distribution of their wealth after it has been passed on to the next generation.
Education Inheriting substantial wealth can have unexpected effects on those receiving it. Educating the next generation on wealth management matters will result in them making the right decisions when they inherit.
Your estate planning objectives need to be balanced against your needs during your lifetime. contact us. for more information.