Succession planning

Passing on your wealth to loved ones

Putting financial plans in place will mean that they are able to pass on their assets to their chosen beneficiaries. As a financial adviser cyou an help ensure this happens according to their wishes and as efficiently as possible, while also ensuring that the quality of their life in later years is not compromised. This will, ultimately, give them peace of mind.

There are important points to consider, such as

  • Having up to date and professionally drafted wills in place, wherever they have assets 
  • Avoiding a situation where ‘Probate’ delays payments to their beneficiaries, for example by using international protection, savings and investment products.

Even though they have been living abroad, they may still be exposed to estate duty in South Africa if they are considered to be ordinarily resident or if they own property or other assets in South Africa.

With some careful long-term planning, you could help to put effective arrangements in place to protect their loved ones leaving them free to enjoy life.

The information provided here does not constitute investment advice or an offer to provide any product or service by Friends Provident International.

Please seek professional advice, taking into account your personal circumstances, before making investment decisions. We can accept no liability for loss of any kind incurred as a result of reliance on the information or opinions provided here.