ESTATE PLANNING

Introduction

Estate planning is an essential pillar in every individual’s financial plan. There are constant changes inside legislation as well as your personal requirements. We aid proper Estate Planning which satisfies all legal and personal requirements.

We can aid you in the process of drafting or revising wills, registering family trusts and setting up of deceased estates, ensuring that your assets pass in a smooth and efficient way. Comprehensive Estate Planning involves the structuring of Wills, Trusts, and Donations.

Frequently Asked Questions

What does the Estate Planning process involve?

Estate Planning is the structuring of your financial affairs in such a way that upon your death:

 

  1. Taxes are minimized
  2. There is sufficient liquidity to meet the estate’s financial obligations
  3. The inheritances are sufficiently provided for your heirs
What are some steps to Estate Planning
  1. Drafting a Will
  2. Consider a Trust
  3. Consider (where applicable) drafting power of attorney
  4. Protect your children’s inheritance
  5. File beneficiary forms
  6. Consider life insurance
  7. Learn about estate taxes
  8. Protect your business
    (also called succession planning)
  9. File all your documents for your attorney or executor.

Documents include:

 

  • will
  • trusts
  • insurance policies
  • real estate deeds
  • certificates for stocks, bonds, annuities
  • information on bank accounts, mutual funds, and safe deposit boxes
  • information on retirement plans, 401(k) accounts, or IRAs
  • information on debts: credit cards, mortgages and loans, utilities, and unpaid taxes
  • information on funeral prepayment plans, and any final arrangements instructions you have made.
Why is a Will necessary?

It is critical for every person to have a will. Dying without a legal will may lead to intestacy. This means that the distribution of your estate at death will be overseen by a probate court which might take years to finalize. Together with the legal team of Servo Fiduciary Services, we make sure that your will is legal and executable according to your wishes.

What is a Trust?

A trust is a legal structure that is used to hold assets for various legal and tax reasons. It may benefit you to hold assets in a trust rather than in your personal name. FAIRTREE PRIVATE CLIENT together with our legal service provider, will help you to establish and manage a trust during your lifetime. This can be for both, the estate planning process, or to protect your assets for future generations.

“Because with us, it’s all about the journey.”

0861 000 712

info@fairtreepc.com

Fairtree Private Client (Pty) Ltd is an Authorised Financial Services Provider. (FSP 12179)