2023-09-04 12:24:15
Succession planning is a measure that is little known among Brazilian families, but it is extremely important to ensure the organization and effective transfer of assets to the heirs. In this article, we will explore the main aspects of this topic and provide valuable information for you to start planning the future of your heritage in a safe and organized way.
What is Succession Planning?
Succession planning consists of a set of strategies and measures taken by a person to ensure the transfer of their assets and assets to the heirs effectively. Through this planning, it is possible to organize in advance how the distribution of your assets will be following your death.
While it may seem strange to plan how your assets will be distributed following you die, this is one way to care for your loved ones and avoid family conflicts in the future. Many families face lengthy disputes and legal proceedings involving the division of the deceased’s assets, which can cause damage and conflicts between the heirs.
A well-structured succession planning can avoid these problems, ensuring a fair and organized division of assets, in addition to reducing the costs and bureaucracy involved in the transfer of assets.
Why do Succession Planning?
Succession planning is indicated for anyone who has assets and accumulated assets, but it is especially recommended for the elderly, people with considerable assets and those who work in risky professions, such as police officers, security guards and security guards.
One of the main reasons for carrying out succession planning is to avoid complications and family conflicts at the time of succession. Often, the lack of prior planning can lead to disputes between the heirs, which causes emotional distress and can result in high court costs.
In addition, estate planning can also bring financial benefits, such as reducing costs with taxes and bureaucracy, protecting assets in cases of bankruptcy or legal proceedings, and ensuring a fair distribution of assets.
What are the Types of Succession Planning?
There are different types of succession planning that can be used according to each person’s needs and goals. Some of the main ones are:
Testament
The will is the best known and most used instrument in succession planning. Through it, it is possible to register the will of the testator in relation to the division of his assets following his death.
There are different types of will, such as public, closed and private. The public will is drawn up in a notary, in the presence of a notary and witnesses. The closed will is written by the testator himself and sealed, being opened only following his death. The private will is drawn up by the testator, without the need for records in a notary.
The will allows the testator to define how his assets will be distributed, respecting the rules established by the Civil Code. It is important to emphasize that at least 50% of the assets must be destined to the legitimate heirs, such as spouses, children and ascendants.
Donations in life
Another form of estate planning is to make living donations. This strategy allows the donor to transfer his assets to the heirs while still alive, reducing the costs and bureaucracy involved in the succession.
When making donations in life, the donor can define the conditions and restrictions for the use of the goods by the beneficiaries. This is a way to ensure that the assets are used in accordance with the donor’s will, in addition to avoiding future disputes between the heirs.
Advantages of Succession Planning
Succession planning offers several advantages for both the testator and the heirs. Some of the main advantages are:
- Reduction of costs with taxes and bureaucracy;
- Avoids family conflicts and legal disputes;
- Protection of assets in cases of bankruptcy or legal proceedings;
- Ensuring fair and orderly distribution of goods;
- Agility in the transfer and access to assets by the heirs.
How to do Succession Planning?
In order to carry out effective succession planning, it is important to have the help of specialized professionals, such as lawyers and financial advisors. These specialists can guide and assist the tester in choosing the best strategies and planning instruments, taking into account the particularities of each case.
The first step in carrying out succession planning is to carry out a detailed survey of assets and assets. Next, it is important to define the objectives and conditions for the transfer of assets, such as the destination of the assets, restrictions on use and deadlines.
After defining the planning strategies and instruments, it is necessary to formalize the planning through legal documents, such as the will and donation contracts.
Conclusion
Succession planning is an essential measure to ensure the organization and effective transfer of assets to the heirs. By carrying out proper succession planning, it is possible to avoid family conflicts, reduce costs and bureaucracy, protect assets and ensure a fair distribution of assets.
For effective succession planning, it is important to rely on the help of specialized professionals, who can guide and assist in choosing the best strategies and planning instruments according to the needs and objectives of each person.
So don’t leave it for later. Start planning your estate’s future today and ensure the peace of mind and safety of your loved ones.
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