Estate Planning is a process that involves planning to transfer your wealth to your intended beneficiaries, in an efficient and effective manner, and at the appropriate time. It requires a careful and thorough review of your financial affairs and your personal circumstances. 

The following graphic highlights the six areas of estate planning and the process that we follow when implementing each area:

Estate Analysis

The first area is to determine what is in your estate.  This requires a review of what property and assets you own and how you own them.

Family Circumstances

The next step is to examine your family and personal circumstances and determine how those may impact your plan.

Your Intentions

Next, you nee to identify your intentions.  Who should receive your estate in the event of your death?  If you should become incapable of managing your affairs or making decisions, who should look after that for you?

Efficiency & Effectiveness

Having identified your intentions, the next step is to determine how your wishes can be carried out in the most efficient and effective manner.  This includes tax efficiency, as well as practical effectiveness.

Implementation

The next step is to implement the Estate Plan.  This involves the creation and execution of the appropriate documents, such as Wills, Powers of Attorney and Trusts.  It may also involve life insurance.  Your lawyer will be involved in the implementation of your Estate Plan.

Review and Monitoring

As a final step, you must periodically review and monitor your plan to take into account any changes in your circumstances or intentions.