Living and Investing with Jonathan Broekman
Welcome to Living and Investing with Jonathan. In this episode, Jonathan Broekman is joined by estate planning specialist Anglique Krügel to unpack a topic many people tend to delay, yet everyone eventually faces: wealth and legacy planning.
The conversation unpacks why estate planning is about far more than just a will, how asset structuring can significantly influence long-term financial outcomes and why early planning is one of the most important factors in reducing future stress, cost and legal complexity for families.
What Legacy Planning Really Means
Question - Jonathan Broekman Angelique, many people think estate planning starts and ends with a will. Is that accurate?
Answer - Angelique Krügel A will is essential but legacy planning is much broader. It includes how your assets are structured, whether they are tax efficient and how everything will ultimately be distributed to your beneficiaries.
The goal is not only to decide who inherits what but to ensure that your loved ones are financially secure and that your affairs are structured in a way that reduces complications and unnecessary costs in the future.
Why Early Planning Matters
Question - Jonathan Broekman When is the right time to start estate or legacy planning?
Answer - Angelique Krügel The earlier, the better. Many financial and legal decisions are interconnected, so you cannot treat tax, legal and financial planning as separate silos.
When you start early, you give yourself more flexibility to structure assets properly, make use of available planning tools and avoid rushed decisions later in life when circumstances may be more complex.
Life Events That Should Trigger Planning
Question - Jonathan Broekman At what point should someone seriously start thinking about this? Is it when you have children or buy your first property?
Answer - Angelique Krügel Yes, absolutely. Major life events are key triggers.
For example, once you know you are going to have a child, you should already be thinking about appointing a legal guardian in your will. Many people are unaware that this is required and without it, families may need to go through lengthy and costly court processes to appoint one.
The same applies to marriage, property purchases and starting a business. These are all moments where planning becomes critical.
Marriage, Contracts & Financial Structuring
Question - Jonathan Broekman How important is it for young couples to think about financial planning before marriage?
Answer - Angelique Krügel It is extremely important. Decisions like whether you are married in or out of community of property have long-term implications.
Antenuptial contracts can also be structured in a way that supports estate planning and tax efficiency but these opportunities must be considered before marriage. Once the marriage is in place, some options are no longer available.
Most couples are not thinking about estate duty when they get married but the reality is that early planning can prevent unnecessary financial consequences later on.
Understanding Asset Structuring
Question - Jonathan Broekman People often hear the term “asset structuring” but are not always sure what it means. Can you break it down?
Answer - Angelique Krügel In simple terms, it is about deciding how and where to hold your assets - whether in your personal name, a trust or a company.
Each option carries different tax implications, including income tax, capital gains tax, transfer duties and estate duty. There is no one-size-fits-all answer. It depends on your personal circumstances, long-term goals and family needs.
Trusts, Protection & Family Needs
Question - Jonathan Broekman When does it make sense to use a trust?
Answer - Angelique Krügel Trusts are not always necessary but they can be very useful in the right circumstances. For example, they may be appropriate where minor children are involved or where there are special needs within a family.
They can also help ensure that assets are managed responsibly if beneficiaries are not in a position to receive them directly. However, trusts also come with compliance requirements, so they need to be structured properly and for the right reasons.
Planning for the Unexpected
Question - Jonathan Broekman What happens to assets and investments when someone passes away?
Answer - Angelique Krügel One of the biggest challenges is that people often do not prepare information in advance. This is why we recommend creating a legacy file that contains all relevant financial and legal information.
It helps families and executors manage affairs during a very difficult time. We also often see complications where business interests or shared entities are involved, especially when consent from co-owners is required for asset transfers. Without planning, this can lead to disputes, delays and legal costs.
The Importance of Communication
Question - Jonathan Broekman How important is communication within families when it comes to estate planning?
Answer - Angelique Krügel It is critical. Many of the challenges we see come from a lack of communication or clarity within families.
When people are open about their intentions, it becomes much easier to plan effectively. It also allows for better decision-making, especially in complex situations like family businesses or blended family structures.
Common Mistakes in Estate Planning
Question - Jonathan Broekman What are some of the most common mistakes you see?
Answer - Angelique Krügel The biggest mistake is simply not having a will. The second is delaying planning until it is too late.
Another major issue is liquidity. Many estates have valuable assets but not enough cash available to cover costs such as estate duty, legal fees and administration expenses. This can force families to sell assets at the wrong time.
Question - Jonathan Broekman
For people who already have a will - maybe even one drafted years ago - how often should it be updated? Is there a rule or schedule to follow?
Answer - Angelique Krügel A will should not be treated as a once-off document but something that is regularly reviewed and updated as life changes. There is no fixed timeline but it should be adjusted whenever major life events occur such as marriage, divorce, having children or buying property. It also needs updating as laws, tax rules and modern considerations (like digital assets) evolve.
A key legal risk is that outdated wills can create unintended outcomes - for example, a former spouse may still inherit after a period of three months after divorce if a will is not updated. Many people also make mistakes when leaving assets to trusts without checking the trust deed, which can sometimes override their intentions entirely.
Local vs International Estates
Question - Jonathan Broekman How does international property or offshore investing impact estate planning?
Answer - Angelique Krügel It makes planning more complex. In many cases, it is advisable to have separate wills for different jurisdictions to avoid delays and legal complications.
Different countries also have different tax rules and inheritance laws, so proper structuring is essential to ensure assets are distributed correctly and efficiently across borders.
Final Thoughts on Legacy Planning
Jonathan Broekman: Angelique, this has been an incredibly insightful discussion. It is clear that legacy planning is not just about documents but about long-term thinking, structure and family wellbeing.
Angelique Krügel Exactly. The goal is peace of mind. When everything is properly planned, families are protected, businesses are secure and decisions do not need to be made under pressure.
The earlier people start the conversation, the better the outcomes tend to be.
Legacy planning is ultimately about more than wealth. It is about clarity, structure and ensuring that the people you care about are supported long after decisions have been made.
For specialist guidance on estate planning, legacy structuring and wills, contact Angelique Krügel and her team at Wealth and Legacy Group for tailored advice aligned to your personal and financial circumstances.
Wealth and Legacy Group Unit A, Le Parc 63 Grosvenor Road Bryanston 2191
Visit their website: https://wealthandlegacy.co.za/
The information provided in this article is intended for general informational purposes only. While we strive to ensure that all details are accurate and up to date, we cannot guarantee specific outcomes or results. Please note that individual circumstances may vary and we recommend seeking professional advice when needed. Our goal is simply to offer helpful insights and ideas to support your journey but decisions should always be made based on your own needs and preferences.
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