Estate planning essentially means planning for life after death. Not so much your own life but rather the lives of your loved ones and family members.👨👩👧👦
Power of attorney✔
Leaving instructions for probate✔
Why is Estate planning important?🎦
Estate planning is very important. It ensures your family have peace of mind and can lay you to rest knowing your affairs are all in order.
Estate planning also ensures your assets are protected in the event you die. This means your property will be passed on to your descendants in the most tax efficient way.
Estate planning will also help avoid family disputes which are more common where no planning has been done prior to death.👤
Most importantly for some, estate planning will ensure you save as much money as you can towards the lives of your family members e.g leaving money behind for the education of young children through a life insurance policy.