By considering the use of incentives as a part of your estate planning, the process of making your will takes on a unique aspect. It gives you an opportunity to consider and reflect how you view the use of your wealth
Divide into SectionsThe mechanics of leaving your wealth
And the
Why How What When
Start by explaining the concepts of how people usually leave money and then
In the case of most wills, the basics are fairly simple as to who the money will be left to and the only important matters which arise are the ages at which the beneficiaries would inherit absolutely and whether there is suitable provision for them to be looked after till that age. And of course how best tax may be saved, which usually takes up most of the time and effort PUT THIS ELSEWHERENeed to mind map the text so that it flows in better order
Start by explaining the concepts of how people usually leave money and then go into more detail
By considering the use of incentives as a part of your estate planning, the process of making your will takes on a unique aspect. It gives you an opportunity to consider and reflect how you view the use of your wealth after death It gives a chance to consider your personal and family ethos, financial and otherwise. Such reflection serves you well in fashioning and creating suitable Incentives.
Considering Incentives also makes the process of making your will more interesting. You will get a chance to ponder over your family ethos, and your values and desires. Such considerations help to fashion inducements to shape your future generations, in many ways, some perhaps of major significance
The process of considering incentives may also help you whilst you are alive for if the beneficiaries know that you are setting out incentives for them in your will, they may please you by carrying out the task while you are alive. Wishful thinking, perhaps, and nothing wrong with that.
Either way, good thoughts applied practically never go to waste and sensible innovation by way of incentives will lead to an evolution in estate planning in Estate Planning
Professional Advisers
Your professional advisers should be made aware of more than just the beneficiaries names and ages. They should grow to know each other well
This hopefully enriching relationship, will allow them to better advise on suitable Incentives and possibly much more.
Write more on interaction between professional advisers and potential and actual beneficiaries.