Imagine your wealth being distributed to those who do not deserve to be a party to it, just because you never took the time off to plan the distribution of your wealth to those who should have been the real owners.
It will become a nightmare for your near and dear ones as you would have left them with nothing and no one to look up for help. Why create such a situation? Let us plan right away who deserves what! For more relevant information read on!
Estate planning involves making plans for the transfer of your estate after death. Your estate is all the property that you own. It can include cash, clothes, jewelry, cars, houses, land, retirement, investment and savings accounts, etc. Estate planning usually has several objectives and goals. They include:
ü Making sure most of the estate is transferred to your beneficiaries
ü Paying the least amount of taxes on your estate
ü Assigning guardians for minor children, if any
An estate plan can be as simple as having a will and naming a beneficiary, or as complicated as having several trusts for different purposes in addition to the will. Let's explore why it is necessary to think of an estate plan regardless of the value of the assets own by the individual. An estate plan is the process of planning for the orderly administration and disposition of property after the owner dies.
For complete financial planning, Just Give a Missed Call to IndianMoney.com on 02261816111 and ask for our financial advisors!
The goals of estate plan may include the following:
· Avoiding confusion when it comes to one’s final wishes.
· Ensuring that his/her children have the legal guardian of their choice.
· Protecting loved ones by ensuring that they receive their assets.
· Helping to reduce or avoid conflict among family members.
· Minimizing taxes and legal expenses associated with the estate.
· Wealth preservation for the intended beneficiaries.
· Flexibility for planning for the future.
Wealth distribution is as important as Wealth creation. Just Give a Missed Call to IndianMoney.com on 02261816111 and plan your estate effectively!
Need For Estate Planning
After one’s demise if he has no estate plan that includes a will, he/she is considered to have died in estate, and the state where he/she live will determine who gets your asset as determined under the state's inheritance laws.
This means that one’s loving one after him, will be left out at disposition of the property, and in the worst situation when there is no body to claim it then government becomes the owner of the same. Therefore estate planning is very much required as this is ultimately planning for one’s own assets with the future perspective.
Don’t make your loved ones to suffer after your demise. Plan in advance. Just Give a Missed Call to IndianMoney.com on 02261816111 and conduct your estate planning for free!You Might Also Like to Read |
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