Hello Zainab,

I run an ever growing business which I started 7 years ago after resigning my 9-5 job at a Digital marketing Agency. I am married and have two amazing children and a loving wife. Recently, a long time friend was at my office and in our plenty gist he mentioned that he was seeing a lawyer to discuss his will and do some ‘estate planning’. I don’t know what estate planning even means. I started to think afterwards of what would happen after my demise (which will not be soon ooo). So, please help me out, what is estate planning and do I need it?

 

Future Minded CEO.

 

Dear Future Minded CEO,

I am very glad you reached out and asked this question. Many of us never think of these things and as we know, Life happens to us all. Like you said however, we hope to be around here for a long time. Now to Estate Planning…

 

Estate Planning is simply when individuals or families make preparation plans for the administration and management of their properties in anticipation of someday dying.

It involves naming those who will inherit or benefit from these properties and how the properties will be transferred.

Types of estate planning vehicles include wills, trusts, power of attorney, holding companies etc.

Like your friend said, you should contact your lawyer to discuss this matter. If you peradventure don’t have a lawyer you use kindly click here and visit our engage platform that has verified lawyers from different fields of expertise so you could get help.

So, keep succeeding Future Minded CEO.