Estate Planning
Estate planning is the process of creating a full detailed distribution and advance care plan to provide precise instructions in the event of death or mental incapacity.
Distribution Plan
A distribution plan, alongside a will, aims to provide clear direction to your executor and trustee as to the specific management or handling of​ assets in your estate. ​ It also allows you to evaluate the adequacy of your current measures, both financial and legal, against the needs of you and your loved ones, in the event of your untimely demise. A comprehensive distribution plan offers a bird's eye view of your situation, lending immediate clarity to your decision making. ​ In the case of executors,
Advance Care Plan
An advance care plan (ACP), alongside an LPA and/or an Advance Medical Directive (AMD), aims to provide clear direction to your donees as to the specific management or handling of​ your assets. ​ There are numerous situations in which you may need to take into account not only your personal upkeep and maintenance but that of your dependents as well. The creation of the ACP can stimulate your thought processes and help in understanding your situation and any shortfalls you may face. ​ In the case of personal welfare donees, an advance care
Alternative Scenarios
The main function of a will is handling the estate of the deceased. There are a few steps to this:
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Settlement of outstanding debts and liabilities
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Division of remaining assets to beneficiaries
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Instructions for certain vulnerable beneficiaries with regard to management of inheritance by trustee
Schedule of Assets
The main function of a will is handling the estate of the deceased. There are a few steps to this:
​​
-
Settlement of outstanding debts and liabilities
-
Division of remaining assets to beneficiaries
-
Instructions for certain vulnerable beneficiaries with regard to management of inheritance by trustee