Estate Planning & Wealth Transfer Workbook
This Estate Planning Workbook will help you to understand the emotional and psychological forces underpinning the decisions you need to make. It will help you to become clearer about the subconscious forces driving the decisions involved in creating the content of legal and financial instruments.
For more information, please read the longer description below.
Estate planning is both a practical and emotional process and it is key to a successful wealth transfer, where assets are transferred smoothly and efficiently, with minimal disruption and loss. We all know how relationships can be stressed and hurt when financial affairs go wrong. Sadly, the emotional aspects during the estate planning process are often pushed aside or overlooked, whereas they deserve as much attention as the legal and financial ones.
During my career I have often observed the harmful ramifications of poor estate planning on the success of transferring wealth to the next generations. I have seen too often its negative effect on beneficiaries’ wellbeing and relationships when these soft issues were not considered.
More so, research shows 70% of families fail to sustain their family wealth or family business. It is found 5% is due to poor financial education and 95% of it is due to poor planning, breakdown in communication and trust, and unprepared beneficiaries.Hence, to ensure successful wealth transfer parents much consider the human aspect of the process, which most parents are unaware of.
There are several key factors that can contribute to a successful wealth transfer: planning, communication, documentation, diversification, and professional guidance.
Before you start your estate planning process, I strongly encourage you to get this workbook and go through the process it describes. It will help you to understand the emotional and psychological forces underpinning the decisions you need to make. Itwill help you to become clearer about the subconscious forces driving the decisions involved in creating the content of legal and financial instruments.
This is essential to prevent hidden emotional currents sabotaging the process and the decisions around it.