All about your needs and the legacy you want to leave behind
Estate planning is more than the drafting of a will or the structuring of your affairs to limit estate duty.
Estate planning must consider your financial circumstances and requirements as well as the legacy that you want to leave. Your estate plan should evolve as and when your circumstances change. Our FNB Fiduciary specialists have the required knowledge and skills to help you to set up your own estate plan.
Why you need estate planning
Estate planning can
Ensure that you and your loved ones not only derive maximum benefit from your assets during your life time, but also provide for the maximum transfer of wealth to the next generation
Analyse your personal financial position and serve as a guide to achieving the ambitions you might have for your beneficiaries
Create liquidity for the payment of anticipated liabilities that may arise when you pass away, such as executor's fees, estate duty and capital gains tax
Ensure that your estate is administered efficiently
Minimise costs and taxes that may be payable
Ensure that the future growth of assets is not limited
Factors to consider
An estate plan should be reviewed if there has been a change in your circumstances. This includes
Recently got married, divorced or widowed
Had a baby, adopted a child or became a grandparent
Potential purchase of assets
Potential sale of an asset or assets which are bequeathed in terms of your will to an heir
Experienced a change in your personal or financial situation
Change in legislation e.g. the budget speech made by the Minister of Finance
Acquisition of a new business - succession planning is crucial
Getting advice made easy
South African ID book/card
First National Bank - a division of FirstRand Bank Limited. An Authorised Financial Services and Credit Provider 1929/001225/06 (NCRCP20).