Everything you own or would own after your death forms part of your Estate. When you plan for your Estate you decide what goes to whom, when & how.
Estate planning is the process of determining what will happen to your assets when you pass away or become incapacitated.
Good estate planning will ensure that your assets are appropriately distributed and that your loved ones will continue to be taken care of in the event something happens to you. When planning your estate, you could use tools such as a will, setting up a trusts, establishing power of attorney, and other special structure vehicles.
A Will is a legal document you draw up to declare your wishes for your loved ones as to how you want your assets to be distributed after you passed on.
Without a Will, your assets could give more troubles than benefit to your family at a time when they are most vulnerable. Your loved ones could be involved in a long drawn legal process or fighting in a complex legal battle with other family members.
Without a Will, the law will decide who your beneficiaries, trustees and guardian would be. There is a legal process to go through before your loved ones can benefit from your assets. Leave nothing to chance. Make a Will and the law will protect your wishes.
You should never assume that your assets would automatically go to the person you want to benefit. Give them security by making a Will and the law will protect your wishes.