Very simply, Estate Planning is a way of ensuring that your estate is passed on to your chosen beneficiaries in the most financially efficient and tax-effective way possible. Tax planning is a major part of estate planning and is done in conjunction with your lawyers and reviewing your will.
Estate planning has two main aims:
1) trying to avoid the likelihood of any next of kin suffering financially; and
2) to minimise the family fallouts over who gets what.
We consider both how you can get the most use and enjoyment from your assets while you are alive, as well as providing for your beneficiaries.
It’s never too early to plan your estate, but it can easily be left too late!