Daily Maverick Articles #estate planning

We all want to live our lives as comfortably as possible, but often don't think about what happens to our loved ones should we pass away, or don't take the necessary measures soon enough. Let's take some time and discuss the importance of this planning, and ensure a bright future for your loved ones after you're gone.

As we've discussed many times before, nothing in my line of work is "one size fits all"; everyone has a unique set of circumstances that must be taken into consideration when they make decisions. You need to be in a solution which works in line with your own goals and targets. A specific factor in this regard is deciding what type of annuity option to choose. Let's take some time to discuss the differences between living and life annuities, and where the strength lies within each option.

We all love our kids, and one of our main goals is to watch them grow up and be successful, even until after we're gone. However, with special needs children, the situation is way more nuanced. Let's take some time and discuss the most efficient ways to ensure the care of your special needs child should you pass away.

As daunting as it can be, something to think about when investing and reviewing current investments is about what would happen when you die. It's intended for the transfer to be as smooth as possible, but the right structures need to be put in place. Let's discuss what measures you can put in place to ensure that your loved ones are taken care of and have one less thing to worry about should you pass away.

A massive concern that many young parents face is the scenario in which both they and their partners die together or shortly after each other, and that their young child will be left uncared for. Let's take some time and discuss solutions to circumvent this problem, which is not as big an eyesore as it may seem to be.

The process of divorce can be one of the most brutal and transformative experiences anyone can go through. As the saying goes, "the show must go on", but naturally that's a lot easier said than done. Let's talk strategically about the routes you should take should you be thrown into such unfortunate circumstances.

As one gets older and the family expands, your focus may shift and you may want to help your children put their little ones through school. With some clever structuring and know what to do with your assets, this is very achievable, even without costing an arm and a leg.

If you are cohabiting or in a life partnership, it's of utmost importance to get all your ducks in a row to ensure that your loved ones are cared for.

Having only one will can significantly delay the finalisation of your worldwide estate.

It is always a good idea to get an executor and financial planner to look at your will and calculate the costs of implementing it.

When I do financial and estate planning for people, one of the factors that I take into account is access to funds. Your spouse and family need to have access to funds while your estate is being wound up.

Sometimes in life the things we do could end up biting us where it hurts, and in the world of finances it's unforgiving. Here are a few things to consider when you draw up your will to avoid a snowball effect that could lead to impending disaster.