Estates are not just rich people who are old so they want to pass down their property to their heirs. It’s about all of us and most of us own estates like our house, car, land, valuables, investments, etc. Best Financial Adviser Kuber Mindz Moneymindz observes that wealth distribution does not affect estates since even the poorest person has one estate or the other, like house, etc.
Since man is mortal his/her material possessions would be inherited by someone else after death. You should certainly have the power to say who inherits what from your property, and you do! Estate Planning is how it is done.
What is Estate Planning?
Estate Planning means expecting and organizing for the management and distribution of a person’s estate during his/her life for the time when the same person gets incapacitated or dies. Estate Planning is distribution to direct a person’s asset base in case he/she gets incapacitated or dies. India’s Best Free Online Estate Planning Financial Advisory Portal Moneymindz gives you the example of wills and trusts as ways of Estate Planning.
Being vulnerable to injuries and illnesses, man has to have an Estate Plan prepared before any such mishaps happen. It is not that only rich people or old people should do Estate Planning. The past centuries have witnessed clashes in clans due to no estate planning or lack of clarity in estate planning.
Key Features of Estate Planning
- Absolute Inquiry
Wherever there is crucial information, close attention is paid to the details and doubts are cleared. This way you can take corrective actions if any faults are found.
- Meets your expectations
Estate Planning makes you decide everything such as what should happen to your estates after you pass away, who inherits what, how they get divided, etc. The deciding authority is you.
Perks of Estate Planning
- Manages information
Any conflicts that might arise in future can be eliminated and possible misunderstandings can be prevented from happening by assessing the plan properly.
- Peace of mind
There is peace of mind when you know you have kept an estate plan. It ensures everything is divided according to your wish.
- Prevents clash of clans
Not the game, but actual “clash of clans”! In the absence of Estate Planning, everyone is possibly going to fight over your estates.
There is more to know about Estate Planning. For more information visit: www.moneymindz.com or give a missed call to 022-62116588