Estate planning: an overview
A thorough overview detailing the importance of having one's financial affairs in order and establishing a plan for the distribution of assets.
Although we may not want to face it, we will all pass away at some point. Planning ahead clearly has its benefits: it is informative, provides peace of mind, and creates efficiency. You should take the time and effort to prepare yourself and your family for the inevitable. From an estate planning perspective, this involves getting your financial affairs in order, establishing a plan for the ultimate distribution of your assets and communicating your last wishes.
Why should I take the time to plan?
Why should I take the time to plan?
Planning for the end stages of your life can involve many emotionally taxing considerations. How you would like to be cared for in your time of need, who you would like to have speak on your behalf in the case of your incapacity, and how you would like your assets distributed once you have passed are just a few of the many topics to think about. If you fail to make decisions now while you are alive and well, you risk that those decisions will be made for you by others (e.g., your grieving family members, state intestacy laws, or by a court of law) and that those decisions may or may not align with your wishes.
Questions and considerations
Questions and considerations
- Whom do I want to make financial or medical decisions for me if I were unable to make them myself? Should I have more than one individual make these decisions?
- What life-sustaining procedures would I like to receive if I am terminally ill or injured (e.g., CPR or mechanical ventilation)?
- Would I like a funeral? Do I want to provide specific burial instructions?
- Will my family be financially cared for if I were to pass away?
- Do I have a succession plan in place for the family business?
Please note: The complete publication, including important information and disclosures, can be downloaded via the link below.
Browse additional articles available from UBS Advanced Planning on topics of interest to ultra high net worth clients and their families.
Purpose of this material.
The information on this page and in the attached document is provided for informational and educational purposes only. It should be used solely for the purposes of discussion with your UBS Financial Advisor and your independent consideration. UBS does not intend this to be fiduciary or best interest investment advice or a recommendation that you take a particular course of action.
No tax or legal advice.
UBS Financial Services Inc., its affiliates and its employees do not provide tax or legal advice. You should consult with your personal tax and/or legal advisors regarding your particular situation.
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