Two contexts: retirement income and legacy
Everyone progresses at their own pace in life. Concerns, values and needs vary from person to person. The way to approach the theme of estate planning will vary according to the extent of the wealth of the person concerned. Let’s distinguish between two more global types of goals that reflect the stage a person is at.
Goal related to retirement income: this goal concerns people who have not reached (or do not plan to reach) financial autonomy to the point of wanting to bequeath sums to heirs. They are concerned about being able to maintain their income until death after reaching retirement age. The themes of death, disability and critical illness risk management concern this group.
Goal of preserving and maximizing the legacy value: this goal concerns people who have already accumulated assets in excess of their personal needs, or who intend to do so. It is clear to them that large sums or assets will be bequeathed to the heirs. Strategies for preserving and maximizing the estate value and funding financial obligations upon death apply to this group.
