Transfer Your Assets
Wealth management is a family affair. Having a clear, comprehensive plan in place will make it easier for your heirs to manage your estate after you are gone, reducing unnecessary stress and simplifying the process as much as possible.
Estate planning
The most basic form of estate planning is creating a will – a legal document specifying how you would like your assets to be distributed when you pass. If you have young beneficiaries you want to protect or if you have objectives you wish to achieve beyond your life, a trust might be a better vehicle for legacy and estate planning.
You can also implement a Lasting Power of Attorney and an Advanced Medical Directive that would allow others to make decisions on your behalf – both for your lifestyle and finances – either for a period of time or indefinitely in the event of sickness or cognitive decline. Powers of Attorney can be as wide-ranging or limited as you require or desire.
Creating inheritance
Set up your inheritance plans early to put time and the power of compounding returns on your side. If your beneficiaries are still young, you may want to consider specialised structures that will only disburse specific portions of assets upon reaching certain milestones, such as age or academic achievement.
Another possible consideration would be the appointing of a guardian for your children in the event you pass away before they turn 18, as well as providing wealth transfer advice for the next generation.
Schedule a Consultation
Ensuring that your family will always be taken care of is without a doubt of vital importance. Talk to us about our legacy planning solutions and give yourself the peace of mind.
