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This post is trigger by a Question on at what age should a "will" be written. The "will" part have been covered in th...
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Saturday, 28 April 2018
Estate planning: A Possible Distribution Plan
My old post.
I was ask about what is a good way to distribute asset in a will.
In my humble opinion, if Mr Sian have 5 loves one (parents must be included), non are minor,
It is great to give them 10 year income in a lump sum but make it clear to them that the amount is for 10 years and is best to withdraw monthly.
In my own planning, my siblings are included.
Using current market rate for elderly, ( I assume they are at a certain age by the time Mr Sian passed away),
It is good to have an estate value of $900k.
Each person can get 20% of the estate which is $180k.
Divide by 10 years will be $1500 per month.
This will definitely make life easier for them.
Inflation not explored in the above example.
Another Good Deed Done!