Estate planning consists of a set of strategies that facilitate the transition of assets from a person to their heirs, and is recommended for everyone, with special emphasis on those aged 60 or over, as well as for those who have already accumulated considerable wealth.
Developing a succession plan can bring several benefits, such as:
Reduction of Bureaucratic Expenses: Reduction of expenses (fees and fees x court costs), legal fees, among others.
Preventing Family Conflicts: A well-prepared plan has the potential to minimize friction between heirs regarding the assets left behind and how they are managed.
Tax Cost Savings: Depending on the specific case, tax planning can significantly reduce the tax burden on inheritance transfers by structuring the way the assets are maintained and transferred to heirs.
Independence and Agility: Legal solutions aren’t always quick, prolonging the asset transfer process. On the other hand, estate planning reduces waiting times and associated bureaucracy.
In short, succession planning not only facilitates the organized transfer of assets, but also offers financial and emotional benefits, promoting greater harmony, agility, and lower costs for the family.
