Have you ever considered what will happen to your assets, property, and loved ones when you’re no longer around? Planning for succession can be a difficult topic to broach, particularly in Asia, where death is a sensitive, and often inauspicious, subject.
“Although we all know we’re not going to live forever, when it comes to financial planning, surprisingly, many people act as though they plan to,” Stephen Davies, founder and CEO of Javelin Wealth Management, made the observation in the Robb Report Singapore.
In the article, he highlighted the importance of having a will to determine “what happens to everything you have spent a lifetime building.” This can include both physical properties and digital assets. Without a will, it may cause a rift among family members over the distribution of inheritance. This is certainly not the legacy you’d like to leave behind.
Truth is, drawing up a will can be very simple, and you may not even have to hire an expensive lawyer for it. That said, those whose financial circumstances are more complex, be it due to company ownership or overseas assets, may consider consulting a financial adviser or a lawyer.
If there’s one thing we learnt during the global pandemic, it’s that life is unpredictable. To safeguard the future and maintain harmony among your loved ones, having your estate clearly sorted out is likely the best thing you can do for them. Plan now, don’t wait.
Read the full article to learn more: https://lnkd.in/grf2cQyu
At Javelin Wealth Management, we attend to all our clients’ financial concerns and support them throughout their wealth journey. If you’re looking for personal advice on your wealth planning, feel free to drop us a message.