Preserving your wealth: Investment strategies for estate planning

With the silent generation approaching their 80s and 90s and even the youngest baby boomers now reaching retirement age, one factor is set to change the global economy more than any other: inheritance.

When a person passes away, their estate generally includes all assets they owned at the time of their death. These assets are then distributed by the executor according to your will. As compensation for not running away with your money in the dead of night, the executor charges an executor fee. This fee is based on the value of your estate. Another significant cost is the estate duty. The estate duty, colloquially known as the death tax, is also based on the value of your estate.

Retirement funds are also a viable option to reduce estate duties and executor fees. ADVERTISEMENT CONTINUE READING BELOW Retirement funds such as retirement annuities , living annuities, and pension preservation funds allow the policyholder to nominate beneficiaries. Upon the passing of the policyholder, the funds in these retirement funds are passed directly to the nominated beneficiaries, with the notable exception of RAs.

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