Succession planning is the ongoing process of creating a strategy to preserve your accumulated wealth so that your assets are available for your future generations.
An effective Estate Plan ensures that you and your family are adequately provided for now, and for many years to come. It involves the administration of your assets for the benefit of your heirs, who are either minors or not competent to handle their own financial affairs. We provide recommendations on these aspects. We also offer advice on structuring your assets to cover and minimise Estate Duty liabilities on your death and account for other expenses, such as Capital Gains Tax.
We’ll help you draw up your Will
A critical requirement of any successful Estate Plan is the existence of a valid Will. If your Will doesn’t comply with the formalities of the Wills Act, it may be regarded as invalid. To avoid this happening and to prevent delays in winding up your estate, or the possibility of an heir being disqualified from receiving a benefit, we caution against using a template or drawing up a Will yourself.
When a Will needs to be drafted, we will refer you to a qualified Will draftsman. We will also make recommendations regarding beneficiary nominations and the distribution of your assets that are not be governed by your Will.
Once your Will has been drafted, it is equally essential that it is regularly reviewed to ensure that any changes in legislation or your personal circumstances are taken into account.