Tag Archives: Succession Law

What is Estate Planning

Whilst a Will is an important part of any good Estate Plan, the practice of Estate Planning involves much more.

Estate Planning is a holistic approach to preparing a succession plan. It is the practice of making sure you have suitably tailored arrangements in place to ensure that all your testamentary wishes are captured and a transition plan is implemented for all of your assets (however owned). Estate planning involves planning not only for death but also for the possibility of legal incapacity before death.

Estate Administration – What’s involved

Estate Administration is the process of administering and finalising the estate of a deceased person.

It may include the process of obtaining a Grant of Probate /Letters of Administration and will involve steps such as attending to accounting and taxation requirements, identifying and settling debts and liabilities, identifying and collecting assets and seeing to the transfer of property and assets to beneficiaries in a timely manner.