Too often, people plan how to acquire assets and grow their wealth, however, very few plan how to secure that wealth and ensure that their legacy is preserved.
Jennifer (not her real name) writes her story:
My husband and his friends built a company together from their days in the university and have managed it together for 17 years. They started well, already making steady profit less than 3 years into the business. Those were the years we enjoyed a great life. 12 months ago, my husband felt the urge to start an Estate Plan but my dilemma began with his trusting attitude. My husband trusted his friends too much. He wrote a sketchy Will with a lawyer friend of his. I was lucky that he shared a sketchy draft with me just before the unfortunate incident that left him incapacitated. To my dismay, the content of what my husband shared with me is totally different from what his lawyer friend has shared with me. Worse still, this friend is in total control of everything my husband worked so hard for – our properties, his rising hospital expenses, children school fees, our general upkeep – everything.
Many people are like Jennifer due to the oversight of a loved one.
Good intentions only go so far. Estate planning must start early and with the right expert partner.
Like most people, Jennifer’s husband eventually showed an interest in creating an Estate Plan. Sadly, the way he went about his plans was not enough to protect his family from undue influence. Jennifer’s husband did not have a comprehensive Estate Plan and as such, a situation like his incapacitation was not accounted for in his plan.
Early Estate Planning, with an experienced and trusted Institution can help you avoid a lot of complications.
From Jennifer’s story, the situation would have been very different if her husband had approached an institutional Trustee like FBN Trustees to create an Estate Plan. Even if you already have a Will in place, it is important you allow an expert Estate Planning professional examine it to ensure that all your interests and desires have been carefully considered and rightly captured.
It is important to ensure that whoever draws up your Estate Plan has your best interest at heart. At FBN Trustees, helping you manage, and transfer your wealth to your loved ones is why we exist.
A member of the reputed FBN Holdings Group, we are a team of experts who have in-depth industry knowledge, local awareness and relevant experience, having helped develop wealth transfer plans for families and businesses over several decades.
Start planning for the future of your wealth today to leave a lasting legacy. Contact FBN Trustees to schedule a consultation.