By: Team Clocr, April 2019
Death is an unavoidable situation and it is the finality which each one of us needs to meet at some
time. So, isn’t it natural for us to opt for legacy planning? Even if you have not heard of it, legacy
planning refers to the intricate planning which entails your assets and investments and the art of
deciding what proportion your kin will get after your demise.
The allocation and details aren’t easy to figure out mainly because there is so much to mull over. However, knowing that death a necessary end will come when it needs to come; it is best advised to plan things ahead. When you have a large family, there may be a lot of heated arguments among your successors regarding who would get a larger share of your property. To avoid such ruckus and to ensure a seamless distribution of your property among your children, the best possible thing you can do is opt for a legacy planning.
There are a lot of different ways by which you can plan the asset division after your demise. With the advent of modern technology, people are choosing cloud safe deposit box as it is a digital mode of securing your assets. You can have the key or the password stored in a way that only the one who is authorized to have control over the asset would be able to retrieve it.
Ideally, wealth distribution post-death is a very pivotal thing to do. Your kin and your successors definitely want the wealth you have worked hard to earn all your life. Once you are gone, it would naturally pass to someone else. This is why choosing to plan the legacy and outlining clearly how you would like to have it distributed evenly among your successor seems like the right thing to do.
What is the right time to do it?
A lot of people are of the opinion that once people head to their late sixties or seventies they should start the process of legacy planning. But, we beg to differ. There is no clear demarcated age for legacy planning and it surely isn’t strictly meant for senescence either.
There are so many people who die untimely. While we do not wish your untimely demise, a little pre-planning won’t hurt. Once you are done having a family and you are least likely to have another kid, the time is right to indulge in legacy planning.
You should have a clear idea about what you own and the revenue which you are likely to amass in the times to come. Once you have done that, know the ratio in which you would like to divide your wealth. This decision is crucial and make sure you account every factor in it.
Of course, if later in life, you want to make some changes, you should have the provision to do that as long as you are alive. So, find out the different ways by which you can indulge in legacy planning and then know how to distribute your assets among the people you worked hard all your life for!
By: Team Clocr, April 2019
No matter what age group you belong to or how many assets you own, the answer to the question of ‘do I
need a living will?’ is always a yes. The concept of financial planning and formulating a will has
many misconceptions. A will is basically what resolves the three main questions that arise with the
thought of death. These three questions are worries regarding who will be the guardian of your minor
children, who will get your money, and who will get your property after your death. To make things
easier for your friends and family, you should not just get a will, you should also get a cloud locker
to store your will so that your friends and family can access it easily after your demise. Your estate
planning today can help your family and friends a whole lot in the future!
It’s never too early
You may be thinking you’re just in your 20s or 30s, you’re way too young and have a long life to live yet. You may think that you don’t own enough assets that would require a will to be formulated. Financial planning is nowhere in your near future’s plan. You might have kids by now. Think of securing their future right away to make sure that any unexpected life event doesn’t leave them behind vulnerable and sensitive to the world. As little as a car or one home should be enough to get started on this path.
It’s never too late either
You could possibly be in your late 40s or even in your 50s. Your kids would be grown up by now, maybe the age of going to college. There is a likelihood that you’re still pretty financially stable so you’re not worrying about your financial future or your family’s. However, do not make this mistake and get an estate planning started. This won’t just secure your family’s happiness, you will also be able to enjoy stress-free days when you’re retired.
How Clocr Helps
CLOCR offers cloud locker services so that your next of kin doesn’t have anything to worry about after you are no more there to take care of them. Not only are you going to secure your minor kids, but also your elder kids, as well as your own old age days. CLOCR and the cloud locker technology makes sure everyone gets the most out of the living will and estate planning. The traditional method involves a lawyer to keep track of your will. However, with advanced technology, cloud locker, and CLOCR make sure you get the safest approach to keep a will while allowing very easy access whenever it is required.
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