You strive to do everything you can to provide for your dearest family. However, when it comes to protecting and preserving the fruits of your labour through Estate Planning, you falter at the thought. Why so?
For some, it could be due to traditional taboos about death. Another probable reason is the lack of understanding about this topic. Many harbour big questions about Estate Planning, but are not quite sure where to gain the answers and how it applies to them.
Question #1:
I am not wealthy. Why do I need to have an Estate Plan?
This is not a planning process privy to the super rich. In fact, we should all see Estate Planning for what it is: And essential process of anticipating and arranging for the management and distribution of your estate during your lifetime, as well as at and after death; with minimal hassle, issues and costs incurred. Depending on your unique life situation, other Estate Planning tools may be used to create your desired legacy.
Question #2:
Things will fall in place naturally. Why do I still need to have an Estate Plan?
In Singapore, if a person passes away without writing a Will, the person is said to have died “intestate”. This means that the deceased did not make a Will to state who should manage his/her estate and how the assets should be distributed. Without an estate plan, your loved ones would have no say in where your assets end up. In some scenarios, the assets may not go to the people and causes you care about.
Question #3:
It is too much trouble. Who should I entrust my Estate Planning process to?
There is no one-size-fits-all solution and you should never think otherwise. Look for someone who has experience and expertise in this area, and who can quickly grasp your financial overview and life situation. This will allow you to get through the process efficiently without wasting time on irrelevant issues. Remember that as with all aspects of financial planning, you need to review your Estate Plan regularly.
Estate Planning is crucial to maintain happiness and harmony in the family. It can also bring about intangible emotional benefits such as peace of mind from the efforts of early preparation. Read more at http://estateplanning.com.sg/
PLUS! It’s never too late to catch the last edition of Will Planning webinar for 2020! Hear from Stephen as he delves into the importance of Will Planning and how it is essential to everyone. Happening on 10 November from 7.30pm to 9.30pm.
Register at:
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