The Process of Estate Planning

centroLAW THE PROCESS OF ESTATE PLANNING Estate Planning ensures control over your wealth during and after your lifetime. It prepares you for a smooth generational wealth transfer and considers the legal and tax environment of the wealth owner and the beneficiaries. THE INVENTORY The target is to define the net value of your estate and how the various asset classes could be transferred efficiently. In addition, the inventory will document ownership for all items since this is, among other things, relevant for joint ownership and the entire transfer process. YOUR FAMILY Involve your family in the assessment. If you own a family business, consider whether and how the family should continue controlling the company and who should lead the business. International and blended families require a specific assessment since inheritance laws may not be straightforward in such scenarios. ESTATE PLANNING OPTIONS Clear ownership of wealth facilitates a smooth transition, so it's advisable to avoid complicated structures. Which tools are ideal for you depends on your circumstances and objectives. Consider tools such as trusts, corporations, and life insurance policies, and in many instances, a combination of them will deliver lasting results. THE ENVISAGED OUTCOME International estate planning considers the specific local laws and procedures. It ensures that your wishes are followed, and your beneficiaries are prepared for inheritance. The ideal outcome puts you in control of what happens with your wealth during and after your lifetime. LEARN MORE AT WWW.CENTROLAW.CH