Estate Planning

Most people after spending a lifetime accumulating wealth forgot to plan their estates for efficient distribution and administration upon death. Many simply do not like to concern themselves with the idea of death. Yet a simple arrangement like a will can save alot of money and pain.

While it is common like properties, cash and collectibles, succession planning for business shoild not be overlooked. This often involves a prearranged agreement with the third party to dispose of the shares of the business for a preagreed price or formula after a predefined event. Due considerations should be given to managerial and business skills of the purchaser or successor especially if family members are involved. Estate planning should involve professionals like lawyers who are able to provide specialised advice.