Stock options estate tax and financial planning - Key components of estate planning
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Make sure your estate and financial planning suits your family's lifestyle, with a plan structured to meet your needs. Apply online Contact us. Key components of estate planning No two families are alike, and neither are any two estates.
Let's take a look at what your plan should take estat account: Asset restructuring Convert close corporations into companies, incorporate inter vivos trusts, and more. Asset management Prepare for the future by anticipating which adjustments you may need. Insurance Insurance can help you provide income volume indicator trading system well as capital for unexpected events and future plans such iptions business investments, or for your and your family's security in the event of disablement or death.
Offshore structures Available to immigrants, emigrants and South African residents. Tax and tax planning Ensure you are fully aware of the tax implications of donations, income, capital gains and estate duties.
Property Plan whether you will buy in your individual capacity or whether it will be bought by your company or by your estqte. Succession Define and plan asset and interest devolution. Depending on the value of the US stocks owned at death, the estate tax rate could be up to 40 percent.
To avoid possible death taxes in the UK and the US, tax planning measures for South African-domiciled investors can include using certain authorised unit trusts or open-ended investment companies that are exempt from UK and US death taxes.
For plwnning, certain life policies registered outside of the UK and US may provide good estate planning opportunities.
Depending on the value of the investments, investors might also consider certain offshore trust structures. South African investors should not be discouraged from diversifying offshore, or from investing directly in UK and US shares, but are advised to check with their professional advisers that they are investing in a tax-efficient way, particularly in relation to estate ad.
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NPA commends Bonang Matheba fraud case. These examples illustrate the kind of problems that could arise in either jurisdiction. US shares South Africans investing in US stocks should tread very carefully, because the implications of poor estate planning could be severe.
The following example is designed to illustrate an unexpected tax liability for a South African investor: Planning for the future To avoid possible death taxes in the UK and the US, tax stoock measures for South African-domiciled investors can include using certain authorised unit trusts or open-ended investment companies that are exempt from UK and US death taxes.
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Description:Sanlam provides assistance in the complex process of estate administration with the executor or financial planner to report the deceased's estate; Co-operate the tax position of the deceased by submitting the necessary returns to the South shares, proceeds of insurance policies, outstanding debts owed to the estate.