What is Estate Planning?
An ‘estate’ is comprised of all the assets and liabilities that the so-called ‘estate planner’ accumulates during his or her lifetime – such assets and liabilities which will be left behind at his or her death.
Estate planning is then the process of creating and managing a programme to preserve or protect the assets as well as setting out how they would like to distribute such assets at their death.
A Will is not the only means to do this and although commonplace, it is not always the best means to most effectively and most beneficially distribute assets in accordance with the estate planners wishes.