Why Estate Planning is Essential for Your Family's Financial Future?

Death is inevitable, we can never run away from it, but a wise man plans in time for a peaceful, amicable and successful management and distribution of wealth after their own death. One thing for certain!! You cannot take your wealth and personal possessions with you when you die. Therefore, it is important to plan for the distribution of your estate when you still have time and mental capacity to do so.

What is an Estate?

An Estate consists of everything you own; your car, your home, other real estate, farm, agricultural equipment, savings accounts, life insurance, pension funds, furniture, personal possessions.  Nomatter how large or modest it may be everyone has an estate.

What is Estate Planning?

It is making a plan in advance to ensure that your wishes are carried out after you pass on or become mentally incapacitated to manage and distribute your estate. Estate planning is to provide instructions on how you want your assets distributed or managed clearly stating whom you want to inherit something of yours, what you want them to receive, and when they are to receive it.

Who should partake in Estate Planning?

Estate planning is for EVERYONE! It is not for the rich and wealthy only nor is it for the old. Good estate planning is more meaningful and beneficial to even the modest families as it preserves wealth and time.

Why is it important to Plan for your Estate?

Ownership seizes at death. If you die without a valid estate plan, all assets owned in your individual name will be supervised and distributed according to the intestacy (the state of dying without a will) laws of Zimbabwe. If there is conflict amongst your family, the office of the Master of the High Court will appoint an executor to administer and distribute your estate on your behalf at a cost. Poor Estate planning can be costly and time consuming for the family left behind to pick up the pieces. Is it not wiser to dictate how you want your estate distributed to protect and provide for your family even after you’re gone, than to have the state dictate on your behalf? It is also important to note that failure to register a deceased estate is a criminal offense in Zimbabwe punishable by law. Registering a deceased estate is a requirement by the law of Zimbabwe as it allows transparent distribution and succession of wealth amongst the surviving, rightful beneficiaries of the estate in accordance to a will or not.

Why Estvis Consultancy?

Would your family know where to find your financial records, title deeds, and insurance policies if something happened to you? Do you have a good understanding of the law to know the legal wording to put on titles and beneficiary designations in wills and trusts? You may have good intentions; but the lack of sufficient knowledge and guidance can create problems for your family at your incapacity or death. We are qualified, registered, experienced estate planning practitioners and financial advisors, passionate to providing you with critical knowledge and guidance on how to plan for your Estate properly.

Knowing that you have properly prepared a plan in place to provide and protect for your family after you have gone is the greatest legacy of all. Estate planning is one of the most thoughtful and considerate things you can do for your loved ones. Plan Your Estate Today! Get in touch with us for further assistance.

#The Best Inheritance Is Peace Of Mind!!