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ARTICLE · 31 OCTOBER 2013

The Importance Of Planning

In recent weeks I have had to attend to the personal affairs of a close relative who had died after a short spell in hospital.

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In recent weeks I have had to attend to the personal affairs of a close relative who had died after a short spell in hospital. I was named as the sole executor so it was my responsibility to firstly verify the person's assets, then attend to any debts and, finally, arrange distribution of the residue to the various beneficiaries. In this case, the estate was very straightforward because the will had been professionally prepared. As I write, all the beneficiaries have been contacted and I expect the formalities to be completed in the next month or two.

My experience, at least in terms of my duties to the estate, has not been too painful. But it set me thinking that such an outcome, coming at a time of obvious stress for the deceased's relatives, could not have been achieved without prior planning. As someone once said, the only certainties are death and taxes, but the timing of the former and the scope of the latter are less easy to predict. So what steps can we take

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