Just like many other developed countries, Singapore is facing an aging population that is at the same time becoming increasingly affluent. This poses a potential and contentious problem in the near future – legacy planning – especially when solid plans have not been set in place beforehand. There have been famous case studies where legal disputes have arisen due to the lack of estate and legacy planning.
First of all, what exactly is legacy planning? It entails the identifying, defining, preserving and passing down of your assets to the next generation and to multi-generations, acts of charitable giving and most importantly, the legacy you choose to leave behind.
Our Principal Consultant, Stephen Chew, sums it up in an equation like this. Learn more also on his recommended tools to plan your legacy.
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