One of the objectives of wealth management is the to carry out proper planning so that the wealth you have accumulate can be distributed according to your wishes when the inevitability, death, occurs. Wealth distribution starts with identifying estate planning objectives.
Your Will, being the most important document, has to be valid and specify your wishes clearly without any ambiguity. Needs of your family and other personal values are to be taken into consideration. It should also clearly specify how you want to have your wishes carried out when you are not in a position to carry out them yourself when you are incapacitated. It should include for unlikely events where both spouses die together whereby you have to make provisions for your children who or minors and other dependents like your parents. Beneficaries should be appointed for your non-probate assets.
Current regulatory provisions allow for assets such as EPF and Insurance to be distributed outside your estate, as such proper nominations should be made.
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