What is estate planning
How did estate planning come about
Estate planning came from the United States in the 1980s and 1990s.
Of course, if you have capital, you want this to be properly transferred to the next generation. Who should the assets end up with if you have a transfer? When should the assets be transferred? Would you like to donate part of the assets during your lifetime? An estate planner can help you with all these questions.
What is your goal?
This question is very important to ask and will therefore be the first question you will hear from an estate planner.
Various aspects play a major role in answering this question. What stage of your life are you at? Are you old or still young?
When you have a clear picture of your estate, you then have several choices about the options for dividing the assets. These will be discussed below.
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"Money Talks, Bullshit Walks"
- Thomas Langerwerf
What options are there within estate planning?
Every situation is different and therefore there are different possibilities to achieve your goal.
Grant
Many people mistakenly believe that you can only grant after your death. This is incorrect. It is also possible to make a grant during your lifetime. For example, you can make a donation to a good cause. It is also possible to make a donation to your children once a year.
The will
In the will you specify how the inheritance should be divided and among whom it should be divided. An estate planner will always assess your will based on the goals you have with your assets. The estate planner will also review your will from time to time to see if it still matches your wishes and goals.
Foreign assets
Do you also have assets abroad, such as an second home? Then different legislation may apply. Your estate planner can help you to make these regulations transparent and propose possible adjustments.
Company Equity
When you own a business, the estate planner will ensure that the business assets are properly passed on to the next generation. Tax legislation contains a number of regulations that could be interesting when passing on business assets.
Do you have questions about estate planning?
Do you have questions about passing on assets to the next generation? Family First is always ready to provide you with good and sound advice.