When it comes to transferring your wealth to the love ones, you have several options. You can keep things really simple and pass along bank accounts and investments such as properties and unit trusts, shares, etc, but beware of the tax bill that may follow. One of the best financial planning tool is leverage on legacy plan.Here are five reasons why legacy plan is the best wealth transfer vehicle.1. Tax Efficiency - The proceeds from life insurance are free of income tax2. Guarantees - Life insurance removes those risks by offering guaranteed payout based on the sum assured bought.3. Using Leverage - The cheapest way to fund the family trust by using insurance, for example paying a monthly premium of around RM500-RM1000 (depends on the entry age) can guarantees a payout of RM 1 million to fund the family trust 4. Business Succession Planning - Provides funding to help children to achieve their dreams.5. Fulfilling Charitable Intentions - As a gift to help the needy.It’s my pleasure and passion to promote and create the awareness of the importance of having Legacy to complete your financial goals.
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