What is wealth planning?
Wealth planning is to evaluate tax planning and risk planning and cater company structures and investment strategies accordingly.
People are often under the impression that wealth planning starts once wealth has been generated. That way they lose years of precious time. Wealth planning should start as early as possible. Parents should take the first steps for their children and make them aware of the importance.
Naturally, for every person and every family, wealth planning will look different. Self employed may have to research more on risk protection, others may focus on tax planning, diversification and confidentiality.