Estate and Succession Planning
“By failing to prepare, you are preparing to fail.”
― Benjamin Franklin
An Estate Plan is the detailed plan for the transfer of a person's wealth and assets after his or her death.
A Succession Plan is the plan pertaining to transition of business to the next generation of family. It also involves planning if there are no successors in the family.
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For any High Net worth Family with dependents, Estate and Succession Planning go hand in hand.
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Why is Estate and Succession Planning Crucial?
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To transmit one’s estate as per their own wishes
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To Provide adequately for immediate family
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To minimise expenses and administrative hassles
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To assist in retention of control over family assets
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For transfer tax efficiency for probable transition taxes
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To ensure continuity
Likely consequences of not having Estate and Succession Plans in place:
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Chaos for loved ones
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Succession as per Law of the land (personal laws)
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No wealth preservation
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High chance of disputes erupting
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Higher Income tax and Estate tax outgo
Estate and Succession Planning form the core of our expertise at Metasis Legal. Our team has a combined experience of having assisted 500+ clients across the globe with their Estate and/ or Succession Plans. It goes without saying that each of the cases was unique in terms of situation, challenges and solutions.
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