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 This presentation will highlight key estate planning considerations and will include an update on the latest legislation around properties in trusts as well as ongoing maintenance issues.
Many of us go to great lengths to plan our lives, our finances and to ensure that we live comfortably. But ironically enough, as much consideration needs to go into planning our estates. For many, this is as simple as having a will, but without taking all the legal and tax implications into consideration, you could leave your dependants with a lot more than just heartache.
At the next financial planning club, Alec Riddle CFP®, of Consolidated Financial Planning, will be discussing a case study to illustrate examples of some practical points to consider and some of the pitfalls that should be avoided when planning your estate. He will also cover the impact of legislation and legislative changes on your current estate plan and what you should be considering to ensure effective estate planning.
The presentation will cover:
- utilising your annual donations allowance and the longer term benefits thereof
- how to enable your heirs to enjoy the benefits of income splitting and the associated tax savings
- what does the ‘portability’ of estate duty mean to you and your estate?
- the potential benefits of a retirement annuity beyond the age of 70
- beware of bequeathing a loan on your death, it could trigger an unwanted CGT event
- planning effectively to side step any possible anti-avoidance provisions that could be legislated in future and their impact on your estate
Alec is the FPI/Personal Finance Financial Planner of the Year for 2009 and was a finalist in 2008. He holds a BA Degree, majoring in Mathematics and currently lectures the final year Financial Planning students at the NMMU on Estate Planning.
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