F.A.Q | Trigen Succession

Why we need estate planning for our family and businesses?

Estate planning is essential for both families and businesses because it ensures financial security, smooth asset distribution, and long-term stability. Without a proper plan, your loved ones may face legal complications, financial burdens, or even disputes over inheritance.

For families, estate planning helps protect wealth, minimize taxes, and ensure that assets are passed on according to your wishes. It also provides for dependents, including children and elderly family members, securing their future even in your absence.

For businesses, estate planning plays a crucial role in succession planning. It ensures business continuity by outlining a clear transition of ownership and leadership, preventing disruptions that could affect operations. Without a solid plan, businesses risk financial instability, internal conflicts, or even forced liquidation.

By having a well-structured estate plan, you gain peace of mind knowing that both your family and business will be taken care of according to your intentions.

Why Financial Planning is so important?

Financial planning is essential because it provides a clear roadmap for managing your wealth, securing your future, and achieving your financial goals. Without proper planning, you may struggle with unexpected expenses, insufficient savings, or financial uncertainty.

A well-structured financial plan helps you:

Manage income and expenses effectively – Ensuring you have enough for daily needs while saving for the future.
Build and grow wealth – Through smart investments, retirement planning, and asset accumulation.
Protect against risks – By having the right insurance and contingency plans in place.
Minimize taxes and maximize savings – Through strategic tax planning and wealth management.
Plan for major life events – Such as buying a home, children’s education, or business expansion.

Whether for individuals or businesses, financial planning provides security, stability, and the ability to make informed financial decisions. It’s not just about growing wealth—it’s about creating a financially confident and worry-free future.

How do I start?

Starting your financial planning journey is simpler than you think. Here’s how you can begin:

Assess Your Current Financial Situation – Understand your income, expenses, savings, and debts. This helps you see where you stand financially.
Set Clear Financial Goals – Define what you want to achieve, whether it’s buying a home, saving for retirement, funding your child’s education, or growing your wealth.
Create a Budget & Savings Plan – Allocate your income wisely, ensuring you save and invest consistently to reach your goals.
Manage Risks & Protect Your Wealth – Consider insurance and estate planning to safeguard your financial future and your loved ones.
Seek Professional Guidance – A financial planner can provide expert insights, customized strategies, and ongoing support to help you make informed decisions.

Taking the first step towards financial planning today can make a huge difference in securing your future. Let’s start building a solid financial foundation together!

How much assets do I need to start a family trust?

There is no fixed minimum amount of assets required to start a family trust, as it depends on your financial goals, the complexity of your estate, and the purpose of the trust.

Generally, a family trust is beneficial if you have significant assets, such as property, investments, business interests, or cash savings, that you want to protect and distribute efficiently.

A good starting point is to evaluate whether you need:

Asset Protection – Safeguarding wealth from legal claims, creditors, or unforeseen circumstances.
Wealth Distribution – Ensuring smooth inheritance and reducing family disputes.
Tax & Estate Planning Benefits – Structuring assets to minimize tax liabilities and provide long-term financial security.

While some trusts can start with as little as a few hundred thousand dollars, high-net-worth individuals or business owners may require more structured trust planning. Consulting with a financial planner or estate specialist can help determine the right approach based on your specific needs.

What I need to do to protect my business value?

Protecting your business value requires strategic planning to ensure continuity, stability, and long-term success. Here are key steps to safeguard your business value:

Establish a Succession Plan – Ensure a smooth transition of ownership and leadership by identifying successors and outlining clear roles.
Have a Buy-Sell Agreement – If you have business partners, a buy-sell agreement protects against unforeseen events like death, disability, or retirement, preventing ownership disputes.
Diversify Revenue Streams – Reduce reliance on a single source of income by expanding products, services, or market reach to maintain stability during economic shifts.
Protect Key Personnel – Invest in key person insurance to cover financial risks if essential leaders or employees leave or become incapacitated.
Optimize Financial Management – Maintain strong cash flow, reduce unnecessary liabilities, and regularly review financial statements to ensure financial health.
Legal & Compliance Safeguards – Ensure contracts, intellectual property, and business structures are legally sound to prevent disputes or financial losses.
Estate & Tax Planning – Structure business assets efficiently to minimize tax liabilities and ensure a smooth transfer of ownership in case of unforeseen events.

By taking these steps, you secure your business’s value, protect stakeholders, and ensure long-term sustainability. Seeking guidance from a financial planner or business advisor can help create a tailored strategy for your business needs

How much do I need to pay for the services?

The cost of our services depends on the type of financial planning or estate planning solutions you require. Our fees are structured to ensure transparency and value, and they may vary based on factors such as:

Consultation & Advisory Fees – Some initial consultations may be complimentary, while in-depth financial planning services may have a structured fee.
Plan Complexity – Fees may vary depending on the complexity of your financial or succession planning needs.
Service Type – Whether it’s personal financial planning, estate planning, business succession, or trust setup, costs differ based on the level of expertise and legal structuring required.
Product-Related Costs – If financial solutions such as insurance, investments, or trusts are part of your plan, costs may depend on the selected products and providers.
We prioritize transparency – Our advisors will provide a clear breakdown of costs before proceeding, ensuring that you understand the value of our services.