Estate Planning

The process whereby a client's financial affairs in respect of his will, property, trusts, insurance, income tax and estate duty are restructured to achieve certain objectives.

KEY COMPONENTS

The following aspects must be covered in the estate plan:

• Wills
  Drafting of a legally binding will to ensure a practical and equitable distribution of assets to heirs and minimising death duties;
• Trust formation
  To serve as a vehicle to own assets with the view of pegging the growth potential thereof and to protect the assets against the claims of creditors;
• Asset restructuring
  To separate business interests from personal investments;
• Buy and sell agreements
  Protecting partners in the event of the disability or death of one partner;
• Succession planning
  What will happen to the business interests of a sole proprietor?
• Taxation
  Donations tax, estate duty, capital gains tax;
• Offshore structures
  The use of offshore structures for SA residents;