Financial Planning for Merdeka Generation – Estate Distribution04 March 2019
One of the most important aspects of financial planning that may often be overlooked by seniors and younger people alike. Indeed, everyone needs to plan ahead and take actions while once still has mental capacity, as one never knows when something may happen. For seniors in the Merdeka Generation, there may be a heightened sense of urgency as one starts to age.
Estate planning concerns the loved ones left behind upon your eventual passing, how you can provide them with your hard-earned assets – leaving a legacy for your family and loved ones, a final act of love.
So, what happens to our assets when we pass on? How would these assets be distributed and who gets what? These are important questions that should be decided by none other than you – the owner of your assets – and distributed in accordance with your wishes. Without proper planning, we could be leaving a financial mess for our loved ones to pick up after our passing.
Distribution of assets upon death – or estate distribution – need not be difficult. A better understanding of the estate rules governing common assets such as property, CPF savings, life insurance, and the benefits of having a will, and taking action thereafter, can ensure that our assets will go to our intended beneficiaries without unnecessary hassle. Click here to find out more details about estate distribution.
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