Thinking about

Legacy & Succession Planning?

Legacy & Succession Planning

The majority of people who have accumulated assets and wealth during their lifetime wish to leave a legacy that helps children, loved ones and supports any financial dependents when they are no longer around to do so in person.  In order to achieve this, preparation needs to be made well before a benefactor is in need of care or passes away.

Careful and considered legacy planning allows you to better secure and pass on your wealth to family and loved ones. As this can often involve complex decisions and solutions, Eight Wealth International can provide specialist advice on all aspects of succession in accordance with your wishes and support to your family every step of the way.

Not only does it offer you peace of mind, but it will protect your family and beneficiaries from confusion, argument and disruption once you are gone.

Wills, Estate Plans & Trusts

Anyone with assets or financial dependents should make a Will that gives clear, unambiguous instruction for what you wish to happen after you die. When living abroad, this is especially important, as it will be vital to any long-distance communications.

A valid, up-to-date Will not only avoids court involvement, a lengthy probate proves, unnecessary legal fees and reduces Inheritance Tax, but also provides guidance and reassurance to a family who could well be feeling vulnerable.

Appointing Guardians

What would happen to your children if you were suddenly not around to look after them?

Parents need to appoint a friend or family member living locally as a Temporary Guardian to avoid their children being placed into the care of authorities.

A properly executed letter should be kept with a lawyer, family friend, or the guardian themselves.

Permanent Guardians appointed under a Will or legal document who do not live in Singapore and mainland China, must bring all supporting documents to court when applying for custody of the children (e.g. birth certificates, passports, etc).

Life Insurance

Lasting Power of Attorney

A Lasting Power of Attorney, or LPA, is a legal document that appoints a person of your choosing to deal with your affairs should you become unable to do so through illness, injury, mental capacity or being in another country.

There are two types of LPA – one for your financial affairs, and one for decisions about your welfare, health and care. Different individuals can be appointed for each LPA if so desired.

Please note that advice relating to a Will, trusts, matters of guardianship, and Lasting Power of Attorney involves the referral to a service that is separate and distinct to those offered by St. James’s Place.

The value of an investment with St. James’s Place will be directly linked to the performance of the funds
selected and may fall as well as rise. You may get back less than you invested.

The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax relief depends on individual circumstances. You are advised to seek independent tax advice from suitably qualified professionals before making any decision as to the tax implications of any investment.

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    Contact us here to find out how we can help you.

    Want to keep it in the family?

    One of the most popular reasons for getting financial planning is to look after your family. The majority of people who have worked and saved hard want to provide opportunity and support for future generations of children and grandchildren.

     

    Some people take advantage of child-orientated investments & savings vehicles, others want to help young adults take that first step on the property ladder, and a lot want to find the best way to hand down wealth to the next generation through effective Inheritance Tax advice.

     

    Whatever your ambition, Eight Wealth International’s advisers have years of experience advising on how to best negotiate cross-generational wealth.

    The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax relief depends on individual circumstances. You are advised to seek independent tax advice from suitably qualified professionals before making any decision as to the tax implications of any investment.

    There are many other areas of financial planning which can be discussed in more detail at your meeting.
    We will work with you to identify your financial objectives and provide a bespoke solution to help you achieve your goals.

    There are many other areas of financial planning which can be discussed in more detail at your meeting.

     

    We will work with you to identify your financial objectives and provide a bespoke solution to help you achieve your goals.

    Legacy & Succession Planning

    Legacy & Succession Planning can be a complex, emotional and difficult topic.​

    Financial Protection

    There are many scenarios when financial protection should be considered. If you suffer from a serious illness, an accident, and/or lose the ability to work, your loved ones are taken care of.

    International tax planning

    International Tax Planning

    Whether you need guidance on enabling your savings to be the most tax-efficient as possible or planning the financial future of generations to come, Eight Wealth International can assist you.​

    Corporate Financial Planning

    There are many areas relating to Corporate Financial Planning. Should you require company pension advice, we will work with you to identify your financial objectives and provide a bespoke solution to help you achieve your goals.​

    Retirement Planning

    You may be approaching retirement and need to put a plan in place, be planning for your future, or even pursuing your dreams of retiring early. Whatever the reason, we can help you achieve your retirement goals.​

    Investment Planning

    Whether due to careful saving, professional success, or inheritance from a loved one, you may, at some point in your life, have money to invest in your future.

    Legacy & Succession Planning

    Legacy & Succession Planning can be a complex and difficult topic, practically and emotionally.

    Financial Protection

    Financial Protection puts measures in place to take care of loved ones should you suffer from serious illness, an accident and/or lose the ability to work.

    International Tax Planning

    No one should be expected to pay more tax than they have to, but tax efficient planning is a technical subject.

    Corporate Financial Planning

    For many of our clients, their financial assets and resources are tied up in their businesses, which is how we often get asked about our corporate services.

    Retirement Planning

    For many people, the biggest issues in deciding when they can stop working is when they will have the financial resource to live the way they want to for the rest of their lives, and what their retirement age will be.

    Investment Planning

    Whether due to careful saving, professional success, or inheritance from a loved one, you may, at some point in your life, have money to invest in your future.

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