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- A Will is just a tool to meet your Wealth Transfer objectives and is only as good as the strategy and planning behind it. Instead of solely taking in details to deliver a Will, our consultants are versed in aspects of Wealth Accumulation, Wealth Protection and Wealth Transfer, and can provide:
- A holistic perspective on your assets pertaining to your Investments, Insurance, Properties and how to enhance the total value of assets you can transfer to your beneficiaries
- Structuring your Will to be as future-proof as possible to minimize re-writing in the future and incurring re-writing costs
- Continued consultation support as your life stage evolves
- Some legal avenues charge by time cost, which if added up after a holistic discussion, will be costly. Conversely, there are Will writing platforms that offer a Will to be done for cheap (or free).
- Other avenues are often fronted by insurance agents or financial advisers who took up a few days course on estate planning and market estate planning services as a foot-in-door topic, but may not have the depth of experience in how to best plan your Will or Wealth Distribution.
- Generally, our experience from reviewing our clients’ Wills is that some of these avenues may lack discussion and planning regarding several points, including but not limited to the following:
- Accommodating for Common Disaster Scenarios
- Debt-cancellation plans to cancel off crucial Debts you may carry
- Option to use 3rd party entities to step in to assist your loved ones
- What distribution frequency of inheritance to beneficiaries is the most appropriate
- “Future-proofing” the Will as much as possible to minimize future re-writing costs
- Clear instructions on whether Property(ies) are to be sold or to be retained
- Whether a person should be appointed a Role (Executor, Trustee)
- Customizable Substitute arrangements for beneficiaries
- For cases involving Minors: Guardian remuneration and specifically stating how much the Guardian can use to raise the child (Guardians, by default, are not supposed to use the child’s inheritance to raise them)
- A proper Wealth Transfer Plan is the bridge between your hard-earned assets over the entire course of your lifetime and your loved ones. Whichever service provider you use, ensure that salient points are discussed and thought out.
