n CME : Your SA Journal of CPD - Estate planning and wills : money matters
|Article Title||Estate planning and wills : money matters|
|© Publisher:||Health and Medical Publishing Group (HMPG)|
|Journal||CME : Your SA Journal of CPD|
|Publication Date||Sep 2010|
Estate planning is widely used to achieve the most appropriate financial outcome for a family.
The process needs to take into account the financial needs of surviving spouses, children, other dependants (e.g. parents) and even possibly grandchildren. Although tax considerations should never be ignored, they should not be taken into account in a way which could result in the needs of dependants being subordinated. For example, although it may be tax efficient for a man to bequeath all his assets to his children or grandchildren to reduce potential taxes payable on the death of his wife, it is usually very inappropriate to expect a surviving spouse to have to rely on her children for financial support.
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