Plan ahead with CreditBoon Consultants and secure your family’s future the right way
An estate plan is a bundle of paperwork that protects and explains how you want to pass down your assets and personal property (your “estate”). It records your wishes and indicates who will guard and carry them out if you are unable to do so.
Why Estate Planning is Important?
An estate plan can serve as a safety net, preserving the value of your assets, reducing distribution timelines, and ensuring that your legacy is carried out. You can identify your assets, beneficiaries, and executors in a will, and they will carry out your desires when you die. If you become unable to manage your legal and financial affairs, a durable power of attorney form authorises a trusted relative or friend to do so on your behalf. One purpose is to guarantee that assets are distributed in such a way that estate, gift, income, and other taxes are minimised. Estate planning can help you build a foundation that you can tweak when your personal and financial circumstances change. The most important topic to consider is how you want your assets transferred if you die or become incompetent.