Protect Yourself and Your Heirs with Expertise Estate Planning Services
Have you done your estate planning? It’s never easy thinking about death, and the future of your partner and children, should you pass on. But in life, two things are certain: death and taxes. Interestingly, most people don’t consider estate planning important. Why? Most people are under the impression that they need to be wealthy, own a big house, a massive farm, or a huge corporation to have estate planning. The truth is that estate planning is not only for the well-off.
Why You Need Estate Planning
Considered as the act of preparing for the transfer of a person’s wealth and assets after his or her death, estate planning is for everyone. Whenever a person passes away, his or her estate must be collected and managed. An estate is made up of everything a person owns when they die, from assets, life insurance policies, pensions, real estate and cars, to personal belongings and debts.
While the primary purpose of estate planning is to make sure that your children, family and other heirs are protected and provided for, estate planning is also a much more complex practice. Not only does it involve examining your current finances, assets and debts, but estate planning also involves choosing an executor to assist with estate administration. Here is a list of just a few of the many benefits of getting your house in order before you pass on:
- Allocate a personal guardian for minor children.
- Ensure that money, valuables, and family heirlooms go to the right people.
- Maintain control of your property while you are alive, regardless of your age, health or financial condition.
- Preserve the family business.
- Protect you from changes in the law that affect the taxation and protection of your assets.
- Provide money and trust funds for family and children in the event of a disability.
- Save your family financial and emotional strain.
- Set aside funds for university and further trust funds.
- Appoint and secure an executor to assist with estate administration.
Regardless of your financial status, estate planning dictates what happens to your assets and debts once you are incapacitated or have passed away. No one wants to think about the inevitable, and although estate planning can often feel like a hassle setting up, it is worth taking the time to do it, so you will get the final say on how your family is treated, and how your assets are equally dispersed.
If you haven’t selected a trust company to plan and administer your estate, then you need the expertise of our estate planning services at Velile Tinto & Associates.
Velile Tinto & Associates Acts as an Executor and Administrator of Deceased Estates
Situated throughout South Africa, we are proud to call ourselves the legal firm of choice for South African businesses, financial institutions, major corporations and everyday individuals. Through our expertise, we place great emphasis and pride on quality and work ethics. We strive to provide estate planning services that are second to none, and we can assist you with all your legal needs.
To learn more about Velile Tinto & Associates, and how our expertise can assist you and benefit your heirs, make an appointment with us as soon as possible.