We Specialise in Personal Estate & Tax Planning
Estate planning in general focuses on passing wealth onto the next generation effectively. It is the creation of a definitive plan for managing your wealth and assets, decided by you during your lifetime and distributing it after your death. Estate planning allows you to decide how assets will be distributed in the future.
These assets may be owned by you separately or jointly with others. An estate consists of any asset of any value that you own, including real property, business interests or assets, investments, insurance proceeds, personal property including personal effects. An ‘estate plan’ generally refers to the means by which your estate and assets are passed on to your loved ones after your death. If no plan is put in place, the courts may have to decide, which can take years to resolve enduring costly legal fees. It can also lead to family disputes causing emotional damage where no clear estate plan or structure has been put in place.
If you have a well-drafted estate plan, you will ensure that your estate passes to who you want, when you want, and is carried out in the manner that you have chosen and decided, thereby allaying costly court actions, legal fees, family disputes, and potentially hefty taxes. Effective estate planning requires a detailed and personal understanding of the client’s family structure and assets.
Estate planning can be accomplished through a variety of methods including;
- Last Will and Testament
- Special Needs Planning
- Incapacity Planning
- Family-Owned Businesses and Farms
- Estate and Gift Tax Figures