How to use financial products to enhance estate planning

Well-considered estate planning ensures that wealth is transferred from one generation to another upon one’s death with beneficiaries receiving the maximum benefit. Ahead of National Wills Week, which takes place from 11 to 15 September, Felicia Hlophe, legal adviser at Allan Gray, summarises four key estate planning principles and explains how some financial products can be used to provide a better outcome for beneficiaries.

An estate consists of the assets and liabilities that an individual accumulates during their lifetime and leaves behind at death. An individual should create and manage an estate plan to preserve, grow and protect their assets during their lifetime and ensure that those assets are transferred to successive generations. An estate plan should be structured according to each person’s unique circumstances, goals and wishes and should be reviewed regularly to take personal and legislative changes into account.

Principle 1: It is recommended that every individual has a last will and testament.

Read full article: https://www.allangray.co.za/latest-insights/personal-investing/how-to-use-financial-products-to-enhance-estate-planning/

September 11 2023 By Felicia Hlophe - Allan Gray