Plan Your Assets Today For A Secured Tomorrow

Overview Of Estate Planning

What Is Estate Planning?

Estate planning is a deliberate process of organising and managing one's possessions, finances, and financial affairs to prevent financial instability in the event of their death or disability. It ensures that the assets of the deceased are efficiently distributed as per their choice by the creation of Wills, trusts, beneficiary designations, and power of attorney and safeguards assets, reduces taxes, and ensures financial security. Estate planning helps people plan their future and their loved ones’ future

Advantages Of Estate Planning

• Keep your family financially stable: It will provide a person’s family with the same amount of comfort and financial security even after their death. Active estate planning reduces disputes among the estate’s successors.
• Plan your kids’ future: A person can protect their minor children and pets after their death with estate planning. It helps them in naming a guardian, allocating finances and instructing their caretakers.
• Smooth retirement: Through the establishment of trusts, Wills, and other legal documents, estate planning helps in the preservation of a person’s wealth, tax reduction, and the creation of a steady income post-retirement.
• Undisturbed existence of your business: A person may protect their company from shutting down or getting disturbed in the event of their death or disability by including business-specific measures in their estate plan.
• Minimise tax liabilities: A person’s family will not be able to keep every rupee they pay in taxes once they pass away. If he/ she has access to a variety of tax-saving techniques, the more their family can utilise their money.

Process Of Estate Planning

• Step

  01

  

  Limiting Estate Taxes

  A person can avoid probate and reduce the taxable value of their estate by naming people or entities as beneficiaries of their assets. This measure will help them to optimise their estate’s plan.

• Step

  02

  

  Appointing A Guardian

  A person can find a guardian, seek their consent, document their approval, allocate finances and establish trusts with legal consideration. This protects their children and pets after their demise.

• Step

  03

  

  Selecting An Estate Executor

  An executor of a person’s choice will manage their estate. He/ She will handle the financial and legal settlements. They will manage the division of assets among the person’s heirs.

• Step

  04

  

  Draft An Accurate Estate Planning Document

  Wills, trusts, and power of attorney are a few examples of the various estate planning legal forms that are offered. A person can select any of them according to their situation.

• Step

  05

  

  Drafting A Power Of Attorney

  In case of a person’s demise or disability, the power of attorney appoints a reliable person (an agent or attorney-in-fact) to make financial, legal, and healthcare decisions on their behalf.

• Step

  06

  

  Healthcare Directives

  Healthcare directives are crucial because they ensure that a person’s medical preferences are respected even if the person is in a state in which they are unable communicate.

• Step

  07

  Business Succession

  Estate planning ensures a seamless transition of a person’s company to a designated successor. This entails finding eligible successors and tailoring a perfect plan for their business' continuity.

Documents Required

• Will
• Nomination forms
• Trust deed
• Power of attorney
• Family settlement deed
• Life insurance policy
• Property records
• Financial statement
• Death certificate
• Tax-related document

* Government Fee