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Inheritance Planning
Preparing For The Unavoidable
Planning for the inevitable nature of our demise should be initiated as soon as possible for everyone. It should take several issues into account; firstly, you, your family and beneficiaries, but also your financial standing, your health and your intentions as to whom you would like your wealth to be passed on to.
At the very least, everybody needs to have a valid, up-to-date Will in place and preferably, arrangements to organize your affairs in the event of your incapacity. Tax planning can also save your beneficiaries from potentially financially crippling death duties.
The Fundamentals
For many individuals, estate or inheritance planning is carried out to ensure that a current, valid Will is in place to facilitate the speedy transfer of assets after death and to direct the transfer of those assets to the people you want them to be passed on to.
Without having a valid Will in place, your assets will be distributed in accordance with local laws – generally, this means first your spouse or partner, then children, parents, or even distant relatives could benefit.
With no Will in place, the process of administering your estate can become protracted, expensive, and leave your estate open to legal challenges from disgruntled family members. Writing a Will is something everyone should do, if only for the sake of their loved ones.
How We Help
GSF Asia Pacific inheritance planning experts can provide practical guidance and help facilitate the following:
Living wills and enduring powers of attorney. | ||
Drawing up a Will and trusts. | ||
Summarize charitable and inheritance tax deductions. | ||
Ensuring that beneficiaries of life insurance policies are incorporated into the estate planning process. | ||
Making sure that philanthropic giving plans are continued. |
A Total Wealth Solution
Inheritance Planning
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