Basics of Estate Planning - Power of Attorney - PowerPoint PPT Presentation

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Basics of Estate Planning - Power of Attorney

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  1. Website: Call 09599445568 Basics of Estate Planning Ever wondered what will happen to your family if anything happens to you? Ever thought about the hardships they would have to go through in such a case? Estate planning can help lower that burden. I am not saying that this certainly will happen, but being prepared is how you can protect your family. How you can do that? For that, you need to start from the basics of Estate Planning. Wh What is at is Es Estat tate P e Plann lanning? ing? Estate Planning is the process of designation that will have the authority over your assets and handle your responsibilities after your death or incapacitation. Estate Planning will also provide your beneficiaries to receive these things in the most cost-effective way possible. The key question to ask yourself while Estate Planning is –“How do you want to distribute

  2. Website: Call 09599445568 your assets and among whom when you die or become incapacitated?” Estate Planning sure is very crucial for everyone, irrespective of the fact that they are rich or not. This secures your family’s future and enables them with the authority to make important decisions even when you are disabled or not around.

  3. Website: Call 09599445568 12 12 steps to the ba steps to the bas sics o P Planning lanning ics of Estate f Estate Mak Make a will. In a will you state how you want to distribute your property. Also, assign a guardian for your young children in case anything happens to you or the other parent. e a wi will ll: : Take a professional’s help and make a Con Consider sider Tru solutions to your various problems linked with wealth management or child management. Trus st services: t services: Trust services provide Health care directives are your best friend in case of medical incapacitation. It is like a living will, you provide a power of attorney to a person who can take decisions in your place if you are medically not-in- condition to do so. As Assign sign a a fin power of attorney, also called agent or attorney-in- fact is a person who you assign the power to handle your finances if you become disabled in such a sense in which you are no longer able to take any such decisions. finan ancial cial po power of at wer of attor torney: ney: A financial Se Secur cure yo person as guardian to manage the money until your minor child becomes of age to inherit your property. You can choose any person you trust as a guardian. e you ur r c chi hild ldren ren’ ’s s pr pro op pert erty: y: Assign an adult

  4. Website: Call 09599445568 Fi Fill ben ll benefici your bank accounts and retirement plans “payable on death” automatically and allow the funds to skip the probate process. eficiar ary fo y form rms: s: Filing beneficiary forms make Life insurance is also considerable: Whether you own a house or property or any other asset, having life insurance can protect your family after your death. Gain knowledge about the Estate taxes in your country or states as it may vary according to the region. Fu Funer neral accounts in banks and deposit funds as ‘payable-at- death’ to pay for your funeral and related expenses. al expe expense nse coverage coverage is is im imp por ortant: tant: Make your

  5. Website: Call 09599445568 Mak Make yo wishes known to your family and relatives related to organ donation or disposition of your body. e your fi ur fin nal al arr arrang angeme ements: nts: Make your end-of-life Pro Protect you tect your bu are the sole owner you should consider a Succession Plan. If you have other partners you must have a Buyout Agreement. r busin siness ess: : If you own a business and you Carefu Carefull lly stor your will, trusts, insurance plans, etc. are sensitive documents that should be protected and stored ina secure places like a vault or bank locker. y store yo e your ur d docu ocum ments: ents: Documents such as Estate planning as discussed above through these 12 points sure is very important for all. If you want to protect your family even after your death or incapacitation you must consider Estate Planning. There are a lot of good Estate Planning companies like the Nexgen Estate Planning Solutions Pvt. Ltd. Nexgen provides a verity of top-notch Estate Planning services and is one of the leading companies in India and a subsidiary of the global education board, AAFM. For more information visit us & call 09 095994 45 5994 45568 568. Thank You