Estate Planning, which includes Wills, Power of Attorney and Power of Guardianship, is an integral part of the overall financial planning process.
However, it’s often overlooked or even neglected. While people often think of a Will as something that isn’t needed until much later in life, correctly planning your estate today is one of the most important things you can do for your family, as it can save a lot of stress and problems down the track
Estate Planning is the process of putting legally recognised plans in place to distribute assets to the right people at the right time according to your wishes, should you pass away or become unable to make decisions.
Having an officially documented estate plan in place can ensure that your assets pass to your loved ones in the most tax-efficient and beneficial way possible. Estate Planning goes beyond just the transfer of wealth upon your death – it also ensures that your loved ones have access to your wealth when you’re unable to manage your finances due to health issues or mental incapacity. It also includes letting them know what your wishes are from a medical and personal perspective. At Beresfords, our Advisers can help you create an estate plan that suits your needs, and then work with our legal team who will draw up the document and execute your Will to support your wishes.