Estate planning is about wealth succession - a way to help protect the wealth you have built over your lifetime, so that it is distributed according to your wishes following your death.
You spend a large part of your life working to earn money to look after yourself, to provide for your family and to save for the future. Given the focus that is placed on creating wealth while you are alive, it seems logical to want some control over what happens to these assets once you are gone.
Estate planning is about giving you that control. Control to make sure that:
Estate planning is beneficial for everyone. The more complicated your personal and financial affairs, the more important it is to have an estate plan.
Planning for the future becomes more important at certain times in your life, such as:
There are three main tools that can help you with your succession planning.