Estate Planning
Liquidity in financial planning refers to the availability of cash or assets that can be quickly converted into cash without significantly reducing their value. This concept is essential for meeting short-term financial obligations and ensuring cash flow.
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The key purpose of estate planning is to ensure that your estate is distributed according to your wishes and that your loved ones are taken care of after your passing. It also involves planning to reduce taxes, legal fees, and court costs.
When it comes to safeguarding the well-being of our loved ones and ensuring our legacy endures, estate planning is a crucial step that cannot be avoided. In South Africa, where the fabric of society is woven with strong familial ties and a deep sense of legacy, the importance of estate planning becomes even more pronounced.
Personal financial planning is a systematic approach to managing one's finances, ensuring that current needs are met while also preparing for future financial goals and uncertainties. At its core, it's about strategizing and making informed decisions to achieve specific financial objectives.
Planning for something fun like your next big holiday or your dream wedding can be fun and many people willingly put many hours and a fair amount of blood, sweat and tears into these events. However, there is something far more important to plan for and it’s never too early to start - estate planning.
COVID-19 has impacted every single person on the planet and has urged people to start planning for the future financially more than ever before.
Clever estate planning involves finding ways for reducing estate duty costs and is an essential part of the financial planning process, as this ensures that your heirs benefit fully from their inheritance.
Estate planning is an essential part of the overall financial strategy to secure a financially stable and sustainable future.
There are many parts that make up the whole, all of which need to be addressed in order to protect the legacy you leave behind and all the rightful heirs and beneficiaries.
Our qualified financial advisors in Johannesburg address the topic of free financial advice offered by banks and why you need a qualified financial advisor.
Although banks often have a qualified financial advisor on their premises, their advisory services are vastly different to that of the bank teller.
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