Dr. Ariel Sergio Davidoff considers inheritance planning for the wealthy family.
The best time to bequeath your assets to a trust is about one year before you pass away…’ This is a piece of timely advice I usually give our clients. However, this is not as easily done as said. So, how should one go about this? A good start is to use the advisory process to help your clients focus on the relevant points regarding their inheritance planning.
In addition to drawing up a list of assets and liabilities and an income and expense sheet highlighting the planned entries, their values, for example, the family’s core beliefs sometimes passed on for generations, are considered and recorded for the family’s benefit. This may take longer than anticipated if the family or family head has not yet reflected on this.
