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Estate planning in simple terms refers to the planning process of transfering assets / investments down from one generation to another. You decide how much of your estate;be it property(s), car(s), personal accolades, financial investments, etc. ; would you wish to pass on as inheritance to whom,how and when, after your demise.
Dying intestate (i.e., without a legal Will in place), can leave your family ill-equipped to face various complications. There could be serious disputes amongst family members over your estate that can devastate the peace and happiness you’ve always sought for your family. In a ruthless and materialistic world that we live in today, the tragic sagas of families being disrupted over money matters is rather disturbing but ever so common.
The estate planning process can seem daunting at first as there is a lot to consider and all of the decisions that need to be made are very important ones. Here, our estate planning attorneys lay out the 5 main components of estate planning:
Estate Planning is NOT to be mis-interpreted as a “DYING WISH” and on the contrary it is a very lively process that when considered earlier the better and it involves a dynamic process that needs to be reviewed at regular intervals to absorb any changes that might happen in our life or in the laws of the country.
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