Estate Planning

"Estate planning is the arrangement, management, securement and disposition of a person's estate so that he, his family and other beneficiaries may enjoy and continue to enjoy the maximum from his estate during his lifetime and after his death, no matter when death may occur."

Such Estate Plan will aim to achieve the following:

• To ensure adequate provision for the needs of the planner as well as his dependents during his lifetime;

• To ensure provision for, and orderly distribution of assets to the dependents and chosen heirs of the planner, in accordance with his / her wishes, the requirements of law and the capacity of his estate, in the event of his death;

• To plan the reduction of or make provision for such liabilities as will exist in the estate of the planner at the time of his death, or will arise therefrom.

There are certain crucial moments in the life of a planner which will dictate not only the future course of the planner's life and that of a spouse and children, but the requirements of an estate plan. Estate planning is an ongoing process and plans will need to be made or modified at each crucial point.

Such crucial moments would include the following:

• The completion of a formal education;

• A first job or subsequent change thereof;

• Marriage;

• Divorce;

• Birth or adoption of children;

• Acquisition or sale of a business or other assets;

• Insolvency;

• Retirement;

• Death of a spouse, child or parent;

• Death of the planner.