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Are you self-employed? Solopreneur? Uber driver? Influencer?

Estate planning introduces unique considerations for those with self-employment. Unlike traditional employment, self-employed individuals must manage various income streams, business assets, and tax structures. Here’s what you need to know:

Identify and Value Business Interests

  • Accurately determine your business interests and how they are held. Integrate them into your estate plan.

Explore Tax-Efficient Strategies

  • Minimize estate taxes and maximize wealth transfer to your beneficiaries with tax-efficient strategies.

Leverage Trusts for Asset Protection

  • Existing trusts can protect family wealth and offer tax benefits. Understand that trust assets don’t form part of your estate but are controlled through your role as a trustee or under a power of appointment.

Develop a Succession Plan

  • Ensure business continuity with a robust succession plan .

Review Beneficiary Designations

  • Update beneficiary designations for your business assets and accounts.

Obtain Adequate Insurance

  • Protect against income interruption with appropriate income protection and life insurance coverage.

Key documents, accounts and passwords

  • Ensure the transfer of key documents accounts, password and professional tram. This data must be stored in a designated location known to your executors.

  • Inherit Life Vault has been developed to cater for critical data storage

Communicate with Stakeholders

  • Share your business succession plans and estate planning decisions with family members and key stakeholders.

Estate planning for self-employed individuals is complex and requires a comprehensive approach. Consult with a lawyer to navigate these unique aspects of business ownership and financial planning.

See Inherit Advisers or lawyers or start your own estate plan at

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