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Friday, March 2, 2012

Estate Planning



Picture showing Process of Financial Planning. 

Estate Planning can be defined as using tax-minimising techniques to secure the greatest financial wealth for your heirs and beneficiaries. It refers to the porcess of planning for the transfer of one's estate to the intended recipients before or upon one's death. Issues such as use of wills, trusts and how to minimise estate duty will have to be considered.
 

Most individuals accumulate wealth in their lifetimes. They use some of this wealth during their lives but part of it is intended for their descendents, family members or friends. In order for their assets (called the estate) to be transferred to the intended parties and to achieve the desired results, planning is necessary.
To do this successfully, we need to understand the estate planning process. You will also need to know the estate duty that you may face, and how to make a will in order to ensure the smooth transfer of your heirs and beneficiaries.

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