How many of us think about what will happen when we die? No, I'm not talking about how we will fly to heaven and meet God. But I am talking about what will happen on earth after we die, what will happen to our family, what will happen to our assets, and what will happen to our businesses?
Today I meet with Michael Seow who work as Estate Planner in Singapore, and Chi Xi Lee, a Singaporean lawyer and also CEO of a company named Rockswill. They both talk about estate planning to me, a concept that is quite new to the Indonesian market.
To make the concept short, Michael shows us what will happen when we don't have any planning on how we will pass our assets after we die. There will be chaos in the family, where all claiming what their rights is. Families will be fighting each other, taxes will come in and some part of our assets is taken by the government. And also there will be chaos in our business since some incompetent people will come in and giving orders on our behalf without any experiences.
On the other hand, an estate planning will eliminate all those problems since there will be an order on how to divide the assets, how to reduce taxes, what will happen to the company, etc. And also we are introduced to a Trust company who will take care of our assets on our behalf the way we want it to be done.
I learned a lot today, and I will share it with my clients as part of my services to them as soon as possible.
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