CHAPTER 20

WEALTH SUCCESSION

‘Enough so that they can do anything they want, but not enough that they can do nothing.’

John C. Bogle1

Wealth succession is all about ensuring that the right people and/or causes receive the right amount of your surplus wealth, at the right time, in the most tax-efficient manner. It is not about giving away all your money to avoid inheritance tax, although that may well be a legitimate concern. If you’ve done your strategic wealth planning properly then you should have a good idea of whether you have any surplus capital or income available in your lifetime. However, before you start thinking of giving away any of your wealth or nominating beneficiaries in your will, I suggest that you consider what really matters ...

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