Since we can never know we will be still living tomorrow, making necessary arrangement to how we want our asset to be distributed when we are no longer around is important.

By law, when a person die, all his or her assets will be frozen. This essentially means a lot to the loved ones as they are unable to withdraw money from the deceased’s bank account or sell and transfer any properties such as shares, cars, mutual funds and other investments. The problems faced by the loved ones of the deceased can be imagined if they seriously depend on the financial support from him or her.

Hence, the most important purpose of estate planning is to unlock or “unfreeze” the frozen assets of the estate of the deceased person in the shortest time possible without incurring unnecessary cost.

“My mama always said life was like a box of chocolates. You never know what you’re gonna get.” ~ Tom Hanks as Forrest Gump in the film Forrest Gump.