Estate Planning – Creating a trust
The previous post was about making a will, which is the most basic form of estate planning. But in certain cases, a will has its own limitations and it not sufficient to efficiently distribute one’s estate. This is where a trust comes into the picture.
Estate Planning – Preparing a will
Till a few years back, people used to feel uncomfortable discussing inheritance and estate planning issues and hence tasks like preparing a will etc. were postponed for the future till the time it became inevitable to do so. Not anymore. Clients are now aware of the fact that postponing the inevitable only makes the job difficult; and the difficulties the family would have to face in absence of a will if the breadwinner were to die all of a sudden. As a result, today most of the certified financial planners have included estate planning in their scope of practice.