What is Estate Planning?
Estate planning is the systematic planning for the distribution of part the estate of a person, according to his/her wishes, in anticipation of future absence (such as death or incapacity). It is systematic because distribution of an estate or part of an estate involves looking at many aspects. When one wants to leave something to another, the objective has to be considered together with tax, cash flow, timing, and various risks such as competence or vulnerability of beneficiaries.
The objectives of estate planning include aspects such as:
• The distribution of the estate in a fair and equitable manner
• The preservation or enhancement of the value of the assets
• Ensuring that loved ones are financially protected and
• Maintaining orderly succession and harmony among heirs.
Many people agonise over the best ways to distribute various assets to their spouse and children. Should it be given equally, or should some have more than others? Should the assets be separately given or should they be shared? If shared, would this cause friction and dispute over asset usage or disposal?
Find out the best solutions for you and your family members!
We provides solutions and support services in the areas of succession, management and distribution of wealth. PreceptsGroup International is licensed by the Monetary Authority of Singapore (MAS) to carry on trust business and its services include acting as trustee of many family trusts and the executorship of estates. Other services include the provision of comprehensive estate planning advice and administration of local and offshore companies. It is by far the largest estate planning group in the region, with over 150,000 Wills drawn up (as at January 2014) and with more than 30,000 executorship and trustee appointments