Estate planning

Estate planning is the development of a comprehensive plan in which the entire financial objectives of an individual are determined. It selects and executes the best coordinated strategies to achieve these objectives.

The main objective of estate planning is to achieve a balance between future resources and future needs. To carry out good wealth management, it is first necessary to have done good estate planning.

Estate planning areas

It is a service that includes:

  • Estate planning.
  • Tax planning.
  • Real estate planning.
  • Succession planning.

Aspects to take into account in estate planning

Estate planning normally begins with an account of the current financial situation, and continues with a forecast of future income, expenses and risks. That is why we try to estimate:

  • Current income level.
  • Forecast of future current income.
  • Forecast of future current expenses.
  • Forecast of extraordinary expenses.
  • Saving capacity.
  • Retirement contributions.
  • Contributions to health insurance (social security, private insurance, etc.).

Based on all these data, savings guidelines are established to cover retirement and various other risks, such as possible discontinuities at work.

How to do good estate planning?

To prepare the estate planning, the following aspects are usually taken into account:

  • Customer balance:What we have.
  • Objectives:What we want
  • Financial plan:How we achieve the objectives.

See more information on wealth management .

Perfect planning could be defined as:

For a marriage without heirs, a perfect estate planning would be the one that, when the last spouse dies, the last euro is used to pay the note, after having lived both without financial problems.

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