Relationships with your Successors - how they can help you during your life

Posted by Malcolm Campbell on 16 November 2016
Relationships with your Successors - how they can help you during your life

 

 

Estate planning is not just about having a valid will. There is a lot more that needs to be dealt with in a proper estate plan than just worrying about what to do with your assets and liabilities when you die.


There are many situations where you may need assistance in managing your affairs prior to your passing. Whether it be a tragic accident, mental health issues or diseases such as Alzheimer’s or Dementia it is sensible to have a plan in place so that your most trusted family or friends can lawfully act as your Attorneys and Guardians when you are unable to manage your own affairs.

Appointing appropriate Attorneys and Guardians and having open and frank discussions with them regarding your estate plan will make dealing with any situation where you have lost legal capacity much easier and efficient for all involved. If your Attorneys and Guardians know how it is you want certain circumstances dealt with if you are unable to manage them yourself you drastically decrease the burden (both physically and psychologically) on those people and will maximise the likelihood that your affairs are managed in accordance with your wishes.

Having a proper plan in place to deal with circumstances where you may not be able to manage your affairs is even more important if you are the key decision maker and person of authority in a business. If proper measures are not put in place to deal with your inability to manage your own affairs not only will your personal affairs suffer but so too may the business (and all of its employees, suppliers and customers).

Especially in circumstances of a temporary illness, having well thought out and effective measures in place to properly deal with your inability to manage your affairs will drastically lessen the impact that the situation will have on you, your family and your business.

The expert team at Dooley & Solicitors can help guide you through the process of implementing a proper estate plan. We can develop a plan that is tailored to your circumstances, which will deliver exceptional value for money, ensure your needs are met during your life and that your legacy is maximised. Let us help guide you through the process of estate and business succession planning so you can move forward with clarity and confidence.

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