Succession and Estate Planning

At this time of year, with a little more down time, and a lot more time spent with family, it’s natural that we take some time to reflect.

One thing it’s important to think about, is what happens after we’re gone. That’s called estate planning.

Over our investment journey, assets and family wealth accumulate. Most people think when they go, their assets will be split equally, and it will all go to the kids.

Typically, as business life progresses, we come to own assets in different entities, whether that’s a company, trust, or other structure. Different entities serve different purposes.

When it comes to transferring these assets though, how they’re held can present other issues, like additional unforeseen tax and compliance costs.

How you plan to allocate your estate after you’re gone is not a simple process and requires a bespoke strategy and particular agreements.

These can be challenging conversations, which is why we make sure to involve the whole family group, to ensure plans are clear and everyone understands what’s going to happen.

If you would like to discuss your own estate planning further, please don’t hesitate to get in touch.