The closer a person is to retirement, the more they must also plan for family succession. And this goes beyond real estate and other assets that will be left to the children. Good financial planning also involves thinking about the taxes that your heirs will pay.
“You need to understand financial planning in a more complete way, looking at risk management, taxes and also succession. You need to be careful to have a defined objective and know where you want to get to”, highlights Daiane Mohr, financial planner at Warren.
When the individual sits down with a specialist to establish objectives and set goals for retirement, it is also necessary to determine how much and what types of assets, such as cars, real estate or money, the person intends to leave to their children.
“Succession planning doesn’t have many rules, but it has to do with the person’s risk profile [ (*) saiba mais no glossário abaixo] and family income”, comments João Arthur Almeida, director of Suno’s wealth management area.
According to the expert, the number one rule is to plan in advance with a specialist or consultant and not leave it to the last minute. “Bringing children and lawyers together at the table to talk and negotiate is the best way to avoid the long disputes over inheritance that we see out there,” he says.
Almeida also emphasizes that it is important to reserve a part of the inheritance to have liquidity
, so heirs can use this money to cover lawyer costs and taxes for the transfer of assets. And there are three options. The heirs themselves can have this slice in their accounts before the patriarch or matriarch dies.
Or, as Daiane Mohr advises, people over 50 can start to migrate more of their invested assets to private pension securities.
According to Mohr, the difference in the tax cost for heirs to receive the same money invested in a public fixed income bond
and in private pensions it reaches 13% more in the first case.
The expert explains that this happens because any money invested or in a current account can only be moved by the heirs after the inventory has been carried out. And to carry out the inventory it is necessary to pay the ITCMD (Tax on Transmission Causa Mortis and Donation of Any Assets or Rights), the rate of which varies from state to state.
In the case of private pension titles, Mohr says that there are many options with succession strategies, which allow heirs to withdraw money without paying the ITCMD and without the so-called “shares” — a mechanism that exists in many investment funds , which basically anticipates the payment of Income Tax.
“And this difference can increase to 32% if we take into account all the benefits. So, adding allowances, Income Tax, ITCMD, in addition to lawyer costs, which in the case of private pensions there are no. So, It’s a combination of elements that can result in a huge difference”, adds Danilo Carrillo, pension and insurance specialist at Warren.
The third option raised by João Arthur Almeida, from Suno, is for the person to take out insurance so that the heirs can redeem the money and use it for the costs of transferring assets.
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Liquidity: Ease of converting an application into cash.
Fixed income: These are applications that have pre-defined income criteria, that is, what are the ways of correcting the invested security, the time limit for the money to be invested and the minimum that needs to be invested.
These are investments with less predictability and are therefore considered more risky. They are more subject to market fluctuations, such as interest rates, exchange rates and commodity prices. On the other hand, precisely because they are more risky, they are applications with expectations of higher returns. Investor Profiles
– Conservative: With a low risk tolerance, they look for safer assets to invest in, with greater guarantees of return, even if profitability is lower.
– Moderate: They have a greater tolerance for risk, therefore, they have more risky assets in their investment portfolio, although this type of investor still values security and guaranteed returns.