Estate Planning

Estate planning is more than just having an updated last will and testament, it is the act of planning and anticipating how a person wants to transfer wealth and assets after his or her death, while minimising cost like executor’s fees, estate duty tax, capital gains tax and donations tax.

• Commercial soundness –to ensure growth and protection of a client’s assets and investments.
• Liquidity – provide income requirements of our clients and those of the client’s dependents and beneficiaries.
• Good governance – provide efficient administration of the estate, preservation of documentation and the smooth and efficient transfer of assets.
• Flexibility – a plan that will be capable of adapting to changed circumstances.
• Minimisation of all costs including taxes.

At Ascor® we put our clients at the centre of the estate planning process by providing the following objectives:

Estate planning is complex. Overlooking or neglecting any aspect thereof can create problems in the future. To prevent this, Ascor® employees highly qualified planners who will ensure that your estate planning addresses your personal requirements, are updated regularly and comply with all legal and personal requirements.

Life Insurance

Unlike short term insurance, life insurance will at some point in time be useful – everyone dies, some early, others later. It is only in a tragic event that the benefits of these product will be seen.
Each person’s risks that need to be addressed and covered may vary depending on your circumstances.

• Death
• Capital disability

The different types of risks that can be addressed using an insurance policy include:

At Ascor® we can help you establish what risks you need to address to provide for the eventuality of an unplanned crisis. As we are Independent advisers, we can shop around among the various insurers for the cover that addresses your specific need.

The purpose of risk insurance can be to cover any of the following needs (risks):

• Temporary disability
• Impairment

• Income protection
• Severe illness
• Accident cover

• Provide for a monthly income for your loved ones when you’re no longer around (death)
• Settle any debts at death eg. bonds, car financing, credit cards, bank overdrafts etc.
• Provide for settling any debts should you become permanently disabled due to sickness or an accident
• Replace your monthly income should you become permanently disabled and can no longer earn a salary
• Provide a lump sum payout when diagnosed with a life threatening disease or suffering a heart attack.

Investment Planning

Investing your hard earned savings can be overwhelming. There are so many possible investment opportunities available to you, and sifting through the various options can be time consuming.
Investing your savings indiscriminately, could lead to permanent capital losses which could possibly never be recovered.

Ascor® will follow the correct investment approach and has already done this research on your behalf making the complex journey much simpler.
We apply a robust investment strategy that matches your future income and growth requirements with an investment portfolio that has a high probability of achieving the required results without taking unnecessary investment risks.

• Tax-free savings accounts
• Retirement annuities
• Establishing and managing of Group Risk and Pension Funds
• Facilitating the transfer of Pension and Provident funds to Preservation funds
• Discretionary investments
• Evaluation of current investment portfolios and making recommendations to re-structure
• General investment advice

Investment services offered by Ascor include:

The high cost of private healthcare makes being a member of a medical aid a necessity and not a luxury.

Medical Aid

Whether you are a private individual or an employer group, Ascor® can help you:

• Select the medical option that best suits your needs
• Understand and manage your benefits to your advantage
• Resolve claims disputes
• Optimize ancillary benefits such as wellness programs
• Keep up to date with changes in Medical Schemes

If you are already a member of a medical scheme, but need assistance to understand the benefits offered, or if you simply need to determine whether your current plan is the right one for you, Ascor® can assist you.

Medical Companies represented by Ascor® include:

• Discovery Health
• Medihelp

• Momentum Health
• Profmed
• Topmed

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Retirement Planning

Recent research done by insurers in South Africa indicate that only about 6% of people can retire financially independent. Fortunately, it is never too late to start saving for retirement – but it is imperative that you do start. The sooner the better.

Ascor® wants to help you make your retirement one you have earned and would enjoy, we offer the following assistance:

• Financial Statements for companies
• Trusts & sole proprietors
• Audit/Independent Review
• Financial statements
• Financial statement analysis
• Processing monthly accounting records
• Management accounts, analysis
• Budgets and cash flow forecasting
• Payroll administration
• Cloud based accounting solutions
• All related tax compliance functions
• Business financial planning advice

• Establishing and articulating your retirement goals
• Calculate and assess what you need to save to achieve these goals
• Draft a retirement plan detailing the process and road to financial independence
• Manage your retirement investment portfolio to improve growth without investment risks
• Utilize tax allowances to make provision for retirement
• Having SARS subsidize a portion of your retirement planning
• Chart and measure your progress towards your retirement goals
• Draft and follow a monthly income and expense budget
• Structure the withdrawal from your retirement funds to avoid paying unnecessary taxes
• Preserve current pension and provident savings when you transfer employment

Many retirees underestimate the effect of inflation on the longevity of their retirement funds. For this reason, you need to take care to do your retirement calculations properly and as accurately as possible. If you run out of funds during retirement, chances are that you cannot be re-employed to earn income.

Financial Planning

Ascor® is a fee based practice providing independent professional financial advice. Our team of post graduate qualified CERTIFIED FINANCIAL PLANNER® can assist you in the process of developing strategies on managing your financial affairs to meet life goals or life changing events. In these uncertain times you need to ensure that you have a personal financial plan or you may run the risk of a compromised lifestyle.

• Planning of Estate and Will
• Advice on Retirement planning
• Wealth creation
• Insurance requirements
• Investment planning
• Medical Aid schemes and planning

Ascor® has a team who can assist in the following areas of financial planning:

The Financial Planning Institute (FPI) of South Africa has recognized Ascor® Financial Advisors CC for its high quality of professional standards by awarding Ascor with an inaugural FPI Professional Practice™ certification.

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Estate Planning & Creating a Will

Talking about a Estate planning or last will and testament sometimes feels like giving health or dental advice.

People listen to your advice and suggestions with the kind of guilty unease of someone who is listening to the dentist talk about the necessity to floss regularly. You know that the advice is important, but you feel like it is something you can worry about later.

But just imagine the implications on your spouse or life partner if you leave him/her behind with no Estate plan. Apart from dealing with the grief of having lost a loved one, the person must deal with hordes of unexpected claims and requests from anyone and everyone that you owe money to or have done business with.

The implications can be even more dire. Consider a recent case of a couple who passed away in two separate incidents, only days apart. Without a Will, the State decides what happens with their assets and, importantly, with their children.

If you pass away without Estate planning in place, not only will the State handle your affairs, but your spouse may lose out on unclaimed insurances and benefits that he/she has no idea about.

Leaving your final affairs to the State will also incur additional costs that could have been avoided by giving clear instructions in a Will.

To prevent this from happening, speak to an ASCOR® CERTIFIED FINANCIAL PLANNER about creating a Will and drawing up an Estate plan and directory. These should be kept up to date and should be revised at least once a year.

Apart from ensuring that your next of kin get the best possible assistance and all the assets due to them, creating and maintaining a Will has the additional benefit of forcing you and your financial advisor to review your affairs and to make sure that it serves your best interests.

Reviewing your Will before you leave on holiday, for instance, may give you new ideas as to how best to invest or spend your money or it may highlight some preferences or ideas that you had in the past and that, in retrospect, are no longer relevant or applicable.

While creating your Will, you should also consider completing an Estate Directory. This directory is a comprehensive catalogue of every part of your life, including items often not thought about. Think about any club memberships, passwords, special friendships and even social media accounts that would need to be notified or closed if you pass away.

ASCOR® has created a comprehensive Estate Directory, which is available on request. Having created Estate Planning and Wills for hundreds of clients, ASCOR® would be perfectly suited to assist you in creating a Will that would perfectly suit your needs and take care of your spouse and children should you pass away.


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