MEANING OF "ESTATE
PLANNING"
Estate Planning means
“ Arranging for the smooth transfer of your property to your
heirs and to other beneficiaries , in a way that will , as far
as possible, achieve your objectives and minimize the associated
costs and taxes.”
OBJECTIVE OF ESTATE
PLANNING :
Like other areas of
Financial Planning , Estate Planning is individualized and goal
oriented. Your goals would include :
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Determining the heirs and their
individual shares. |
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Deciding the executor of the estate. |
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Providing adequate financial security
to your dependents. |
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Minimizing taxes and estate settlement
costs. |
PROCESS OF ESTATE PLANNING
:
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Accumulating data concerning your
assets, family needs |
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Identifying specials needs |
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Formulation of plan |
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Execution of plan |
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Creating process for periodic
review |
CORE SERVICE BEING
OFFERED BY PFS :
The core service would
primarily involve drafting of Formal Will
based on your inputs besides deciding on other Estate Planning
tools like gifts / trust formation etc. to address taxation issues.
This would also involve due ratification of legal documents by
appropriate legal authorities.
FEE FOR THE ABOVE SERVICES:
The charges for the
above services would be on a flat fee and would be discussed on
interaction with the client.
Any subsequent codicil (amendment to registered will) /cancellation
would be charged separately.
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