The first misunderstanding: talking about money between husband and wife is easy to hurt feelings.
The second misunderstanding: rich people need to do property planning.
In fact, talking about money wisely can enhance feelings.
And family property planning is not just the patent of the rich.
Every ordinary person should learn to protect his family with love and wealth.
Love is the spiritual foundation and emotional bond of the family.
Wealth is the material foundation of the family and the minimum guarantee.
Recently, I read the book How Middle-class Families Defend Wealth, and I have more thoughts on how to defend family property.
This book has two authors, one is a famous lawyer Li Guo, and the other is a famous insurance expert Samuel.
The book lists 20 typical cases of family property disputes, and the author puts forward preventive measures and solutions from two aspects of law and insurance.
Wealth inheritance is a problem that every family needs to consider, especially high-net-worth people. If they don't plan well in advance, it is easy to generate various risks of wealth outflow.
There are some common misunderstandings about when to make a wealth inheritance plan.
For example, some young entrepreneurs feel that wealth inheritance is a problem that needs to be considered when they are old;
For example, some people are influenced by traditional culture and feel that it is unlucky to plan wealth inheritance in advance.
In fact, wealth inheritance planning has nothing to do with age. Only by planning in advance can we inherit care and wealth and let our family get long-term happiness.
There are at least 20 tools to help families realize wealth inheritance. Here are four tools.
Making a will is a common way to inherit wealth. If you want to make a will, it is suggested that you must make a notarized will, so as to ensure the validity of the will.
Testamentary succession will face many difficulties in practical application, and the most common problem is notarization of inheritance rights.
The notarization of inheritance right is a notarization procedure that the national notary office proves who has the right to inherit the decedent's estate and proves that its inheritance activities are true and legal according to the application of the parties and the legal provisions. Heirs must hold a certificate of inheritance before they can go through the inheritance procedures of houses, shares, deposits, stocks, vehicles and other assets. [ 1]
Notarization of inheritance rights requires the consent of all heirs in the first order, and the relevant formalities must be handled at the notary office.
In the case of more heirs, the notarization of inheritance rights will face various uncertainties.
In fact, there are many ways to inherit wealth, such as marital property agreement, life insurance, trust and so on. And only testamentary succession needs notarization.
If you want to make a wealth inheritance plan, you can learn more about several different tools first, and then make the choice that suits you best, without sticking to a will.
The property agreement between husband and wife can be signed before marriage or during the marriage, and its main purpose is to agree on the ownership of property before and after marriage.
There are three types of people who need to consider signing a marital property agreement:
1. Entrepreneurs and their marriages often bring unpredictable risks to the operation of enterprises. Signing the marital property agreement is mainly to isolate the equity of the enterprise and increase the stability for the development of the enterprise.
2. remarried people, remarried people usually have accumulated certain assets, and may also need to pay maintenance for their spouses and children in the previous marriage. Signing a marital property agreement can stipulate the assets and liabilities before marriage to avoid future conflicts.
3. People who buy a wedding room can agree on their respective housing shares in the marital property agreement; The proportion and source of investment in house purchase; How to bear the mortgage payment and other issues, to avoid years of savings because of the risk of marriage is divided into half.
For ordinary families, the insurance that can be considered for purchase mainly includes critical illness insurance, medical insurance, life insurance, accident insurance and annuity insurance. Different insurance products have different functions.
The main economic pillar of the family can be well planned through the allocation of insurance;
Minor children can plan education funds through insurance allocation;
Full-time wives can isolate personal risks by configuring insurance.
If you can hire a professional insurance agent, design different insurance schemes according to the different needs of family members.
Making good use of the legal attributes of insurance tools is helpful to realize the certainty of family asset inheritance.
For example, if the beneficiary is specified in the life insurance contract, this part of the assets will be delivered directly to the beneficiary according to the insurance contract and will not be included in the inheritance procedure.
High net worth individuals can also consider using trust tools to protect family wealth.
After the trust is established according to law, the trust property does not belong to the personal property of the trustor, and the trustee must deliver the relevant trust rights and interests to the trust beneficiaries according to the trust documents. [2]
Based on the independence of trust property, debt risk and marital property division risk can be isolated.
Family trust not only has the functions of asset isolation and wealth inheritance, but also has strict privacy protection and strong flexibility, which can be customized according to the situation of different families. In recent years, more and more high-net-worth families in China have begun to consider setting up family trusts to protect family fortune.
Although China's family trust business is still in the development stage, it is believed that with the continuous accumulation of industry experience, the future will become more and more mature.
Introduce four tools to help protect family wealth. Do they inspire you, too
Using legal and financial tools to arrange family property not only reflects the sense of responsibility for the family, but also shows the care for the family with practical actions.
May you also protect your family wealth and let it help your life bloom.