Founders Message: Having been an estate planner for many years, I have come to realize that many people only plan how to maximize their assets for the duration of their lives. Many people know nothing about the smooth transition of the estate in the event they pass on. As a result, many assets owners are unaware of the impact that their families may face and how they can better manage this transition?
The Purpose of Attending Seminar of Family Legacy
There has been much news about how families fought in court over the deceased’s estate and how they ended up in sorry ends.
I asked myself, “How can I help?”
I remembered a case about a widow who lost her apartment and had to downgrade from her condo to a 3 room HDB due to a lack of proper estate planning of her deceased husband’s assets. The husband was running a business but unknown to him, his personal assets were intertwined with his business assets due to some business loan arrangement. As such, it causes his personal assets to be greatly affected, which in the first place would be avoidable if proper planning had been done.
“I hold seminars regularly for people who want to know more about will & estate planning, its importance, and how estate planning ensures a smooth transition of the estate to the next generation.” -Singapore Professional Estate Planner and Renowned Keynote Speaker Mr. Kenneth Low
There are many people who have no idea what estate planning is and its importance. Many financial planners I know of were not specialized in this area as well. It is an extremely long process and requires a vast understanding of relevant legal and financial knowledge. The amount of time and commitment required for such comprehensive planning is just too much work for most planners. Despite that, I decide that it is necessary to educate people on this and I set out to educate the public by giving seminars to employees from both the private and public service sector. Through the last decade, I had shared with thousands through the seminar and had helped a few hundred to plan for the peace and provision of their families for such events.
My Vision for Family Legacy
Family Legacy’s was started with the vision to enable families who want to protect, accumulate, and ensure a smooth transition of the estate to their family in the event they pass away.
What’s the meaning of our logo?
Family Legacy’s logo symbolizes three main benefits of estate planning, namely:
Accumulation of Wealth
Protection of Wealth
Transition of Estate
The two keys combine to form 門 or gate in traditional Chinese. This Chinese character is similar to gates found in traditional Chinese mansions. Surrounded by a square painted in gold color, this square symbolizes the strong perimeter structure that protects the wealth in your life.
The reason for having two keys is simple: first, to protect the wealth & peace of your family and second, to open up wealth that could last through generations. Having two keys also doubles the protections of your wealth, ensuring that proper steps or plans are implemented to preserve the Legacy you leave behind.
“In this world, nothing can be said to be certain, except death and taxes.”
There would be instances where the beneficiary is unable to manage the wealth being passed down, be it due to poor money management, age or disabilities. In such cases, estate planning would be extremely critical as it could help to Protect, Preserve and Create more assets for generations.
Family Legacy plays an important role in many peoples’ lives. From guarding and creating wealth for others, and to the distribution of the estate, Family Legacy is there to ensure a smooth process.
With a strong gate and perimeter protecting and possibly creating more wealth for you, there would be a time where you have to pass this onto the next generation. As the Chinese saying goes, 家和万事兴 or harmony in the house breeds wealth. When a person passes on, proper estate planning would ensure a smooth transition of the estate and allows his family to carry out his wishes properly. There are a lot of cases where family members entering into bitter battles over the estate, creating disharmony in the family or breaking the business you have built through the years. On the other hand, the family may also face unnecessary prolonged probate processes and unnecessary loss of assets due to siphoning for expenses such as:
When a person passes on, proper and complete estate planning would ensure a smooth transition of the estate and allows his family members to carry out his wishes properly and accordingly. There are a lot of cases where family members enter into bitter battles and law suits over the estate and assets, creating disharmony in the family or breaking the business which has been built through the years. On top of that, families may also face unnecessary prolonged probate processes and unnecessary losses of assets due to siphoning for expenses such as: