Protect your family
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Avoiding probate is by far the most common reason why people seek out the advice of an estate planning consultant.
While many have never even dealt with probate, they still know one thing – they want to avoid it at all costs. This stems from probate horror stories covered by the media or told by neighbours, friends or business associates.
Suffice it to say that for the clear majority of people, avoiding probate is a very good reason for creating an estate plan and can be easily achieved.
Reducing Estate Taxes
The significant loss of one’s estate to the payment of taxes or inheritance taxes is a great motivator for many people to put an estate plan together.
Through the most basic planning, married couples can reduce or even possibly eliminate estate taxes altogether by setting up Trusts as part of their wills. In addition, a variety of advanced estate planning techniques can be used by both married couples and individuals to reduce their estate or inheritance tax bill.
There are generally two main reasons why people put together an estate plan to protect their beneficiaries: Protecting minor beneficiaries, and/or Protecting adult beneficiaries from bad decisions, outside influences, creditor problems and divorcing spouses.
If the beneficiary is already an adult but is bad at managing money or has an overbearing spouse or partner who you fear will squander the beneficiary’s inheritance or take it in a divorce, then you can create an estate plan that will protect the beneficiary from their own bad decisions as well as those of others.
Avoiding a Mess
Many of our clients seek the advice of an estate planning consultant after personally experiencing, or seeing a close friend or business associate experience, a significant waste of time and money due to a loved one’s failure to make an estate plan. Choosing someone to be in charge if you become mentally incapacitated through old age related problems or after you die.
Deciding who will get what, when they will get it, and how they will get it after you’re gone will go a long way towards avoiding family fights and costly probate proceedings.
The problem with a standard Will
Many people who have a self written will, or people who perhaps have instructed a solicitor to document their wishes do not have any way of protecting the inheritance passed on. By creating a robust trust structure you are protecting the wealth you leave behind from leaving the family due to divorce, business failure or a number of other unforeseen events.
There is a better way
A family trust is a simple and inexpensive, yet powerful legal vehicle, with many benefits for a wide range of individuals. The Cadde Wealth Protection trust structure intends to make certain that your assets will be allocated as you wish, should something happen to you and makes certain that the beneficiaries that you designate will have access to their inheritance, in the manner you intend, quickly and fully. The peace of mind in that fact alone may be enough to recommend the process.
Speak to a consultant for FREE
Meet with us for an initial, no-obligation consultation at our cost.
During this consultation you will share with us some basic facts about your situation and we will give you an overview of the specific issues you may be facing.
We will summarise for you in writing the strengths and weaknesses of your current situation, the threats to your wealth we have identified, the opportunities to eliminate or reduce those threats and our quote for putting the required protection in place.