3 Reasons Why Businessmen NEED Estate Planning ??

Businessmen have EVERYTHING planned out…but they tend to forget this one CRUCIAL thing:

Estate Planning.

And believe me, it’s something that you as a business person, will want to settle as early as possible.

So today, I want to share 3 Reasons Why Businessmen NEED Estate Planning.

And it starts with this…

1?? Businessmen are too busy already.

I’ve never really seen a businessman who is very free.

And they are busy to the point where keeping their affairs in order (stuff like what happens in the event of their demise) will never be on their to-do list.

Never.

In fact, when you ask a typical businessman what his everyday to-do list is,

I can tell you right now, it pretty much looks like this:

Clear my email.

Go to a business meeting.

Launch a new product.

Meet a business partner.

Do a Business Collaboration.

So if you are a businessman and your schedule is typically packed like this…

Then sitting down, putting your affairs in order, and thinking about “what if I die” will never be on top of your mind, right?

Because a businessman always hopes that there’s a better tomorrow. There’s a lot of ideas that he wants to do and achieve in life.

He always has this feeling that he’s going to launch new things tomorrow…

And maybe bring in a bigger market share next month…

?

It’s always about the future.

So as a businessman, ‘dying’ will normally go against your flow of thinking and it will never be very natural for you.

That’s why it’s very easy to just put off and forget about planning for wealth distribution since you already have a lot on your plate.

But trust me when I say this…

Businessmen are the people who need Estate Planning THE MOST.

And I’ll tell you why in my next 2 points.

2?? A typical *successful* Businessman will have a variety of assets—properties, stocks, cash, real estate, etc.

The thing about this is…he has assets all over the place.

And trust me, his loved ones wouldn’t really know where he puts those things.

(Unless, of course, his business partner is his spouse.)

If not, the spouse usually wouldn’t know where his assets are because they are very wide-ranging.

And this makes things even worse.

Why?

Because their asset portfolio tends to be a bit more complex than others.

And if nobody in their closest family knows where these assets are, and something happens to this business person…then that’s it.

Getting access to these assets and properly distributing them to their loved ones will get so complicated—and that’s the last thing they want to happen.

3?? A Business person’s assets are worth great—typically worth MILLIONS.

Now what would you do when you start accumulating assets worth millions? Will it be okay for you if they just go to waste?

No, of course not.

When you start accumulating assets like these, that’s when you know you need to start planning for the distribution.

Because if you don’t…

? Not all of your assets will be recorded.

? They will be distributed according to Singapore’s Intestate Succession Act.

? And you will have no control over who gets your assets in the event of your demise.

So your loved ones might not even get the rightful share and support that they deserve.

And what’s even more crushing is the thought that this could all be avoided if you had done up even a simple estate plan in advance.

That’s why I’m sharing this post today…to urge you to look into this as early as possible.

Because aside from planning for your future projects and launches, it’s very important to plan for your wealth distribution as well.

It’s always best to be prepared for anything.

Did this post resonate with you? Share your biggest takeaway in the comments below!??

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#estateplanning

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