Retirement & Estate Planning
Utility of asset Diminishes over a period of time. Similarly, the earning capacity of an individual diminishes with the growing age. A person can save while he/ she is Earning and the saved corpus helps in meeting expenses when the earning stops/ diminishes. Thus, the Importance of Planning for the future subsequent transfer of wealth to legal heirs plays an important part in the wealth management process.
Effective Retirement & Estate Planning provides for Post earning stage expenses & Efficient transfer of assets to the legal heirs.
Estate Planning or Succession planning involves documentation like Will drafting, Private Trust Creation, etc that helps in the Transmission process and Efficient transfer to the recipient.