Get clear guidance on how you want your wealth distributed. Our specialists simplify the seemingly complex issues associated with structuring your wealth. Using their shared knowledge and technical expertise, they assist you with a range of services. An Estate Plan is the blueprint of your family’s financial future.  A well-designed estate plan not only insures your family’s financial security after your death, but also helps to accumulate and conserve assets during your lifetime. Winding up of an Estate is a costly and time-consuming process and ensuring you have the correct professionals appointed is essential.

Comprehensive Estate Planning aims to ensure that, upon your death, the costs of your estate such as taxes and other expenses are minimised as far as possible, that your estate is liquid enough to settle such costs, that your loved ones have enough liquidity for their needs, and that any complications which may arise are eliminated.

Advantages of Estate Planning:

• An estate plan is the blueprint of your family’s financial future.  A well-designed estate plan not only ensures your family’s financial security after your death, but also helps to accumulate and conserve assets during your lifetime.

• Estate planning addresses your legal and financial concerns, taking into account your personal goals and tax considerations.  It takes advantage of existing tax laws and funding vehicles in order to reduce estate tax payments and to manage your property in an efficient and profitable manner.  An effective estate plan will minimize estate taxes, provide liquidity to pay those taxes, protect your family’s income and direct the distribution of your assets.

• At Valére Private Wealth, estate planning is a team effort involving the professional expertise of your attorney, accountant and other trusted advisors

Trusts are widely used in estate planning in South Africa, ranging from protecting assets held for the benefit of individuals who aren’t able to manage the assets themselves – through to assisting high-net worth individuals in implementing estate and succession planning, and wealth preservation strategies.

A trust can be an effective way to own, manage and protect your assets. Establishing a trust is a way of protecting the interests of yourself and those you care about and providing future financial security for them. Trusts are commonly used by families for estate planning purposes as it serves as a vehicle in which assets can be managed for the benefit of family members for generations to come. There are very strict rules contained in our legislation that apply to trusts, including around how trusts are managed, how beneficiaries are added or removed, and how trust deeds can be amended. This makes it essential to have a thorough trust deed in place to provide these rules for the trust.

Trusts are excellent investment vehicles to protect assets, and they have the ability to hold a wide array of asset classes, including property, shares and art or collectibles. They also allow for effective distribution of assets to beneficiaries. An offshore trust that is regulated in a secure jurisdiction allows for effective wealth creation, tax-efficient management and succession planning. The main reason for setting up a trust is to protect assets for the future. They can also be set up for a particular purpose such as asset protection, protection from creditors, or future relationship property protection.

What is a Trust:

• A trust is a legal arrangement that lets the owner of something ‘gift’ it to someone else. This could be an investment, cash, a life policy or a home.

• You choose who can benefit from the trust assets, as well as how and when your wealth is distributed.

• There are different kinds of trusts available, and each may be taxed differently so it is important to speak to your Private Wealth Manager about the benefits of setting up the right trust for your needs.

Why have a Trust:

Setting up a trust can be a good idea if you want:

• Peace of mind that the money will be paid to the right person at the right time. For example, you may want to put some of your savings aside in a trust for your children or grandchildren.

• To pass on wealth quickly and easily. By putting assets into a trust, they no longer ‘belong’ to you so there is no need to wait for probate which can sometimes take several months.

• To help with inheritance tax planning. Some trusts can be used to help reduce the value of your estate if you survive seven years after setting it up.

• To move assets offshore and mitigate your tax liability.

An up-to-date Will is an essential part of estate planning. A Will can allow you to spell out how you will provide for your loved ones and how your affairs should be managed after you are gone. Proper estate planning will ensure that your estate is set up in a tax-efficient way that benefits you during your lifetime and your beneficiaries after your death. Leaving behind a clear and valid Will is also kind to your loved ones, by making the division and winding up of your deceased estate just a little bit simpler. With so many challenges to deal with, it is understandable that worrying about what happens to our assets after we die is not one of our primary concerns. However, the avoidance of this topic can cause serious problems for your loved ones upon your passing.

When you draft a Will, you are ensuring that those you love are looked after according to your wishes and that your assets are distributed in an efficient manner. We can help you put together a Will that is easy to understand and give you practical advice to ensure that your intentions and wishes are properly recorded and ensure the protection of both your estate and beneficiaries.

Proper estate planning makes provision for:

• payment of outstanding debts;
• ensuring your dependants have income and access to capital;
• distribution of your estate, according to your wishes;
• protection of your business interests; and
• minimisation of taxes such as estate duty and income tax. 

Ensuring you have a valid will can make all the difference to your family when you pass away. Without a will, the laws of intestate succession apply, meaning that your estate will be divided according to a formula specified by law. Because a will is such an important part of estate and financial planning, it is worthwhile to get professional advice when drawing up one.

Offshore companies allow business owners in particular to consolidate global earnings in an optimised structure. Benefits include convenient administration, tax optimisation, asset protection and a robust legal framework.