With an aging population and changing
dynamics in family life, proper estate planning is essential to ensure your
wishes are met while taking into account your specific circumstances and needs
or those of potential beneficiaries. The importance of assets being protected
and applied for the benefit of, or distributed to the right beneficiaries has
become essential for every individual and their family. No one knows what
tomorrow will bring. However, by understanding your unique needs we can help
secure your assets for the future.
Estate Planning is about in your lifetime
laying down clear and specific processes for management and disposal of your
estate in your lifetime or after death when you are no more. This means you pen
down your wishes as to who gets what part of your legacy and why and bring
strategies and tools like nominations and Will so that there remains no
confusion afterward. An effective estate plan allows you to plan in your
lifetime and while you are of sound health how your hard earned assets are to
be dealt with in the event of your incapacity or death rather than to whom the
government directs.
Succession planning for a Business is the
adequate planning that can ensure your business will be preserved as you want
it to be. If you own a business, you may wish to keep the business within your
family or sell it, before or after you pass away. It is the process you nurture
these leaders and then when the time arises they succeed you to take care of
your business legacy. Regardless of which option you choose, careful planning
will ensure the business can stay up and running and be protected from large,
unexpected tax liabilities, this is what succession planning is all about.