Estate Planning

At any stage of your life, estate planning is important and it should be considered and reviewed regularly. Estate planning is an important part of your overall financial plan and it shouldn’t be left until it is too late.

Estate Planning is about making sure your family is provided for and that your assets go where you want them to after you die. It is important to note that should you pass away without a Will, your assets will be allocated as per the current legislation and this may not be in line with your wishes.

Strategic Prosperity Group can help you put together a suitable estate plan that will:

• Ensure that the ownership and control of your assets pass to your intended beneficiaries in the correct proportions;
• Minimise the tax being imposed on the income and capital gains earned on those assets;
• Protect those assets should a beneficiary be involved in any legal difficulties, for example, bankruptcy or divorce.

Essentially, a good estate plan can provide you with peace of mind and minimise potential complications for your beneficiaries.

Some points we will help you to consider are firstly, have you accumulated sufficient assets to provide for your family and pay off any debts in the event of your death? If there is currently a short fall, we will be able to suggest some ways for you to make up this shortfall.

Secondly, consider your estate planning needs. Have you thought about who will inherit your assets, which assets they’ll inherit and in what proportions?

Also, if you are injured and unable to control your investments, have you chosen someone to manage your affairs for you whilst you are recovering? This is known as an Enduring Power of Attorney. It gives another person the legal power to act on someone’s behalf in relation to their financial affairs.