Estate planning

While wealth creation is an integral part of personal finance, wealth distribution is equally important. So Estate planning through creation of a 'Will' would define how your wealth is to be managed and distributed, in case on any unforeseen circumstances. Which otherwise will be decided by court of Law.

Estate planning involves making plans for the transfer of your estate after you. Your estate is all the property that you own. It can include cash, clothes, jewelry, cars, houses, land, investment and savings accounts, etc. Estate planning usually has several objectives and goals. They include:

• Making sure most of the estate is transferred to your beneficiaries

• Paying the least amount of taxes on your estate

• Assigning guardians for minor children, if any