Estate Planning

Many of us want to be able to pass our wealth on to future generations and make sure that the people who depend on us are looked after.

Effective estate planning is about developing objectives for your estate that are in accordance with your wishes, building financial security for your dependants, and ensuring that the wealth you have accumulated over your lifetime is not eroded by tax.

What is a Will?

A Will is a legal document that allows you to choose who should benefit from your estate and the person most suitable to administer it, according to your wishes.

Testamentary trusts

A Will may make provisions for the establishment of one or more trusts for the benefit of your spouse, children or grandchildren. These trusts can be useful in producing tax effective income for minors. Income distributions from testamentary trusts to children under age 18 are treated as ordinary income; they are not subject to the higher tax rate for certain types of income in relation to minors.

Power of Attorney

When you establish a financial plan you may also wish to grant a Power of Attorney. Granting Power of Attorney means that you legally appoint a person or organisation to make decisions, sign documents and generally act on your behalf in various financial and property matters.

Power of Guardianship

A Power of Attorney does not have the authority to act on your behalf in the event you are unable to make decisions regarding your lifestyle because of an accident, illness or disability. If this happens, you cannot be sure that people important to you will be available or recognised when significant decisions need to made on your behalf.

Notice regarding the following services

With regards to Business Planing, Tax Planing and Home & Investment Lending we will work in conjunction with our specialists in this area or your accountant and / or solicitor. Legal and Accounting services offered by specialists in these areas are not authorised by GWM Adviser Services and GWM Adviser Services are not responsible for the services provided by the companies we may refer you to.