Estate planning is much more than the simple drafting of a will or adding a trust to an estate plan.

True estate planning is the process (it often takes time to fully implement the plan) by which a family’s assets are structured to achieve the financial goals of the broader family in as tax (income tax, estate duty and CGT) efficent a manner as possible.

The ultimate goal is achieve the right balance between:

  • The effectiveness of the plan (i.e. the degree to which it achieves the goals of the family).
  • Cost efficiency.
  • Tax efficiency, and
  • Flexibility (i.e. the ability to adapt the plan to changing circumstances).

We approach estate planning from a truly holstic perspective.

This requires us to fully understand the situation, needs and objectives of the family (i.e. the planner, the spouse,  the larger family.)

This means getting a clear picture of:

  1. The family structure (e.g. where based, where and how support is to be given).
  2. The broader family’s financial plan, and the objectives of the estate plan.
  3. Existing fiduciary strucutres (e.g. trusts or companies), and what strucutres address the different needs.
  4. The assets making up the estate.
  5. The extent to which the current will and overall estate plan addresses the needs.

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