Estate planning involves structuring a client’s personal, business and financial affairs in life in such a way that upon his or her death, estate duty, capital gains tax and executor’s fees are minimized.
In addition, estate planning should provide for sufficient liquidity to meet the estate's financial obligations, and ensure that the heirs’ inheritance is adequately protected. It is important to note that estate planning does not concern itself with life insurance policies only.
Although life policies are taken into account, comprehensive planning involves the structuring of offshore assets, wills, living wills, trusts and donations, and issues such as marital contracts and different income tax provisions all need to be taken into consideration.
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