We often go through life thinking that we cannot be harmed by life changing events. Until the moment arises, we carry on thinking that death is something we won’t face anytime soon. And when the moment does come, shock consumes over rational thinking and you and your family are caught in a fix.
This is when succession planning comes into the picture. Succession planning is the process of anticipating and arranging for the disposal of an estate, belongings and assets of an individual.
Succession planning involves:
Will Writing, Creating of trusts, Nomination Check, powers of attorney and property ownership gifts that would be awarded to a family after the demise of an individual.