At some stage of every investor’s successful financial journey, the question of transferring wealth arises. This simply means the transfer of wealth to your heirs or beneficiaries on your death by utilising different financial strategies such as, amongst others, wills, estate planning and/or trusts in a tax-efficient way. As the testator, one of the biggest challenges and obstacles you will face when drafting your will is firstly, deciding who to transfer your wealth to and secondly what is the best way to transfer it. The first decision is very personal, and each individual will have a different situation. Most people tend to bequeath their wealth to a spouse, children or grandchildren, but it is the testator’s prerogative to decide who will benefit from their will. The second decision is one best made in consultation with a trusted adviser. (more…)
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