What is Legacy & Inheritance Planning?
Legacy planning or estate planning ensures that your assets/investments are all recorded and documented in one place. They are seamlessly transferred to your loved ones, in the right manner and proportion the way you would prefer.
Why Legacy & Inheritance Planning?
By contemplating your legacy and creating a plan, you are able to shape the destiny of your hard-earned wealth so that it provides all the benefits you want your heirs to enjoy and gives you peace of mind.
Equitable wealth distribution
Redesignate beneficiaries as necessary
Revisit your estate plan
Keep track of your beneficiaries and formulate plans for your future events favoring your needs and requirements.
Eliminate uncertainty and make sure that your beneficiaries pass in the manner you want them.
Fincart enroutes the appropriate financial strategy that will spare your beneficiaries from the large tax burdens.
Ascertain the true value of all parts of your estate and minimise the impact of any taxes on it.
What do you get in the customized estate plan?
A WILL writing service ensures that all your assets are properly recorded. You can clearly decide how you wish to distribute them and by when. We suggest these basic services to all our clients. However, if the size of the estate or assets is very large then we would recommend creating a trust.
Fincart's Planning Process
- WILL writing is a simple exercise that we strongly recommend for everyone. This is customized to each individual's requirements.
- Managing a trust comes with an annual cost, hence it is advisable for those who own assets that are large and needs to be distributed to many multiple stakeholders.
Simply put, legacy planning or estate planning ensures that your assets/investments are all recorded and documented in one place. They are seemlessly transferred to your loved ones, in the right manner and proportion the way you would prefer.
By contemplating your legacy and creating a plan, you are able to shape the destiny of your hard-earned wealth so that it provides all the benefits you want your heirs to enjoy and gives you peace of mind.:
- Plan how and when your assets will be distributed so that the wealth transfer process does not occur according to your wishes.
- Redesignate beneficiaries as necessary
- Minimize taxes
- Provide guardianship and care for children and family members, young and old, with special needs
- Make sure your family members are financially secure in the event of your death or illness
- The execution of your wishes will be carried out on your behalf if you are not able to do so
- Peaceful succession & disposition of the estate
Legacy planning can be done in multiple ways; drawing a WILL is the most simplest form. A lot of businessmen having multiple stakeholders, family members and complex shareholding structures can do the same by forming Trust.
- Calculate your worth by creating a list of all of your financial assets, personal property, document liabilities, etc.
- Ask a financial planner to refer you to a qualified estate planning attorney
- Determine (or update) your beneficiaries
- Revisit your estate plan regularly
get in touch
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