It is a fact of life that we are
all going to die, though money can’t stop that. One thing you will need to do
is to plan how your money will live on after you’re long gone.
Wealth carries significant social
responsibility .However it is good if your personal wealth is used also to help
those in need, to reward good work, encourage better work and higher
productivity. In that way we all benefit.
So when planning a real estate you
must note the following;
1. Not to burden your children
with undeserved wealth that could paralyze them, preventing them from working
hard and achieving their own measures of success.
2. To make a legacy for you self that
revolves a round charitable giving.
You should consult a lawyer who
specializes in estate planning. That lawyer will take you through the
legalistic and tax concerns that will empower your estate to do the most good.
Sit down with your spouse if appropriate,
and draw up a list of priorities. How much do your children need or deserve? Are
there other members of your extended family who could benefit from you? Which
charities do you regard as worthy?
Your estate should be the last
great business deal you make. Think of your real estate as a future investment.
Make sure that whatever choices you make, you will make the greatest return on
your investment.
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