PERSONAL & BUSINESS SOLUTIONS
Legacy Planning and Wealth Distribution
The only certainty in life is that it will not last forever. Yet, you must be responsible for the well-being and welfare of those you leave behind. Legacy planning helps you prepare to distribute your property and assets to your loved ones upon your passing. It’s pretty similar to estate planning, but as people often associate it with death, “legacy planning” is used instead.
The bottom line is you’ve worked hard to build what you have. It’s only natural that you want to establish and nurture a legacy that will last for years or even decades after you’ve gone. Accomplishing the estate planning basics like a last will and advance directive is vital. But it’s also beneficial to think about the process more holistically.
We will help you develop an effective and efficient estate plan so that your legacy will be well-preserved and distributed according to your wishes.
Some key benefits of legacy planning are:
- Preservation of wealth
- You can protect and preserve your accumulated wealth over generations through appropriate financial structures and estate planning techniques.
- Control and clarity
- Legacy planning gives you control over how your assets and resources will be utilised and distributed after your passing. It allows you to specify beneficiaries, outline specific instructions, and provide guidance for managing your wealth, ensuring that your intentions are carried out as you desire.
- Family harmony
- Prevents conflicts and disputes among family members by clearly articulating your intentions and addressing potential sources of contention. It provides an opportunity to have open conversations about wealth, values, and expectations, fostering understanding and reducing the likelihood of disagreements in the future.
- Business continuity
- If you own a business or have significant assets tied to specific ventures, legacy planning enables you to ensure the continuity of these entities. It allows for a smooth transition of management or ownership, preserving the value and sustainability of your business for future generations.
- Minimisation of administrative burdens
- Proper legacy planning can streamline the administrative processes associated with asset distribution, estate settlement, and wealth transfer. This helps reduce the burden on your loved ones during a difficult time, minimizing legal complexities and potential delays.
