Secure your future, for yourself and the ones you love
In times of old, a ‘strongroom’ was a secured vault where important legal documents and family heirlooms were stored in the homes of royalty and noble class families.
Today, the assets of modern wealthy families are protected by skilled estate planners who shield their estates by enacting strategies to minimize tax and ensure the proper management of investments. Equally important, they help bequeath a family’s legacy to the next generation; thereby giving purpose to a lifetime of achievements.
Building an ironclad estate plan
The most valuable gift you can provide for your family is security and peace of mind. A professionally prepared estate plan will guard assets against a myriad of dangers and ensures they are properly and efficiently passed on to the intended heirs. A professional estate practitioner will consider each client’s specific circumstances and will craft a personalized plan that considers family dynamics, tax position, risk tolerance and long term objectives.
Too many families rely only on a last Will and Testament to divide their assets, unaware of the many other tools available to them. In addition to a traditional Will, a sound estate plan should include two key documents: a personal directive and an enduring power of attorney. Both are important legal agreements that allow the issuer to designate a trusted individual to represent their wishes in the event they are unable to do so.
An estate planner will also assemble estate freezes and Trusts, and will arrange insurance policies and investments to protect their client’s wealth and preserve family harmony. Additionally, by smoothing the probate process and appointing an efficient administration to manage the estate, an estate planner can minimize damage caused by delays, excessive professional fees, tax penalties and any potential legal challenges initiated by disgruntled heirs.
Modern families need broad strategies to protect their assets. Tune in to The Strongroom Sundays at 5PM on AM770 CHQR to learn more about the value of Estate Planning.