KSG Finserve offers Estate Planning Create a legacy that provides for your family, supports the causes and charities you care about, and maintains your values and vision across future generations. Our experienced Estate and Trust professionals provide advice on tax-efficient wealth transfers, with a view to helping you: - Review your existing estate planning documents - Integrate your estate plans with tax, investment, business and insurance planning - Manage the issues associated with a sizable inheritance - Identify the most beneficial trust structures for your particular needs - Use tax-efficient wealth-transfer strategies - Carry out your philanthropic goals - Coordinate with legal counsel to modify your estate planning documents so they accurately reflect your wishes - Advise on business succession strategies - Support family wealth education
Estate planning is the preparation of tasks that serve to manage an individual’s asset base in the event of their incapacitation or death. The planning includes the bequest of assets to heirs and the settlement of estate taxes. Most estate plans are set up with the help of an attorney experienced in estate law.
If you die without a will, state law governs. You definitely need a will if you are married, have kids, or have a lot of assets. You may not need a will if you are young, single, childless, and broke. When it is time for you to get a will in place, make sure you hire an estate attorney to draft it for you.
Will his family be able to inherit the assets he leaves behind, or will his assets be tied up in legacy issues in courts? Estate planning is crucial if someone wants his survivors to appropriately deal with finances after his death, even if it means managing outstanding liabilities.
A power of attorney (POA) is a legal document giving one person the power to act for another person (the principal). The agent can have broad legal authority or limited authority to make legal decisions about the principal’s property, finances or medical care. The power of attorney is frequently used in the event of a principal’s illness or disability, or when the principal can’t be present to sign necessary legal documents for financial transactions.
Guardianship is an order made by the Children’s Court for a child in out-of-home care (foster care) who cannot be returned to their family for their own safety.
The child or young person will remain in the care of their guardian until they turn 18 or until the children court changes the order. Under a guardianship order, a child or young person is no longer considered to be in foster or out-of-home care but in the independent care of their guardian.
If it’s safe to do so, the guardianship order will give a child or young person contact with their parents, family and other important people in their life.
If a person dies intestate (without a will), the inheritance is passed on according to the succession laws applicable to him as per his religion. The biggest mistake in estate planning is not having a will.