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ACTIVE PRACTICE UPDATESJUNE 2014Planning your estate planning should start early in life. If your estate is worth in excess of 325,000 it could be subject to inheritance tax (IHT). Even if it isn't,
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Estate planning should start as soon as possible to ensure assets are protected and distributed according to one's wishes.
Anyone who wishes to protect their assets and determine the distribution of their estate after their passing should start estate planning.
Estate planning should start by outlining one's assets, debts, and wishes for distribution. This can be done with the help of a lawyer or financial advisor.
The purpose of estate planning should start is to ensure that one's assets are protected and distributed according to their wishes, and to minimize taxes and legal complications for loved ones.
Information such as assets, debts, beneficiaries, and instructions for distribution must be reported on estate planning.
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