Just as a life plan plays an active role in the direction of one’s life, it is important for us at Baraza Wealth™ to have a clear understanding of our clients’ personal and financial goals, objectives, priorities and decisions aimed at achieving their personal dreams. A meeting of minds™ is critical to ensure that all advice, support and guidance given are aligned with our clients’ life plans which are unique to each client.
Once the needs and objectives are understood, we are able align income and assets with a clients’ personal and financial goals. A wealth plan guides clients to budget, spend and invest money. Part of the planning may also involve providing financially for life events such as starting a business, going on an extended holiday, an early retirement or to take care of loved ones after one’s death. It is not only necessary to plan your financial affairs to provide for your dreams and aspirations, but also important to provide for continuity at and after death. This is especially needed when businesses are involved.
Whilst planning the financial side of one’s life, it is also important to make sure that the assets, which include personal assets, fixed properties, investments, insurance and business interests are structured in such a way that they are protected and preserved from one generation to the next. Our team of legal, tax and financial experts will ensure that assets and entities, which vary from close corporations, companies and inter vivos trusts, will be structured in the most tax efficient way whilst ensuring that it aligns with clients’ life plans. It may be necessary to set up a company and/or a family trust and will definitely include the drafting of a "Will" as this document will be the vehicle used to transfer the remaining assets in the estate to the next generation, whether it is to loved ones directly or to the family trust of which they are the beneficiaries thereof.