Five theses on a happy estate planning - by Balz Hösly

Most of my clients had to make the move to "plan" their estate. All of them, however, felt that this process was enriching at the end. They have learned how to reduce and simplify their lives in terms of complexity. From the many counseling sessions with clients over the last few years, a few important insights have been gained, which I would like to share with you in five theses.

Thesis 1: "Tidying up" frees mind and soul

Can you remember the last time you cleaned up your office or desk? First, it requires a certain external pressure (usually the existing disorder) and then the overcoming of an internal resistance. But once you've got started and it's time to clean up, it's good for you. When the work is completed, a very satisfying feeling sets in to rearrange its affairs. Equally stronger and more satisfying is the feeling after the successful conclusion of a estate planning. Here you get an overview of economic conditions of your life. You recognize matters that you have long or long ago should tackle, and you actively think about what assets and means, but also which people are important to you. This "cleaning up" - a client of mine once said: "the mucking out of the stable of life" - frees mind and soul. Many things seem clear after a completed estate planning and, like a well-tidied office table, are clear and manageable. The great satisfaction of this feeling was underestimated by most clients at the beginning of estate planning.

Thesis 2: Estate planning is above all life planning

When you start a estate planning process, do not primarily plan to pass on your estate after your death, but plan your economic affairs for the rest of your life. You will be clear about which individual assets are important to you and what resources you really need for a peaceful and financially carefree life. You decide what you would like to pass on to your relatives already in your lifetime in the form of procuring and hereditary benefits and what you want to leave behind after your death. A professional estate planning takes into account all your important sources of income: In addition to the occupational income, this also includes pension fund benefits, life insurance or plan your life - not your estate! Five theses on a happy estate planning - by Balz Hösly Investment income. As part of the estate planning, you create for yourself this overall view and decide what you want to keep and what you want to let go. In this process, you can get expert advice. At MME, we ask our clients a whole series of questions that they can deal with. Our clients decide for themselves which answers they want our support for and which they want to tackle on their own. There is no time pressure! Estate planning often takes months or even years, because in between, personal reflection times and discussions with the family are needed. As part of the estate planning, you create for yourself this overall view and decide what you want to keep and what you want to let go. In this process, you can get expert advice. At MME, we ask our clients a whole series of questions that they can deal with. Our clients decide for themselves which answers they want our support for and which they want to tackle on their own. There is no time pressure! Estate planning often takes months or even years, because in between, personal reflection times and discussions with the family are needed. As part of the estate planning, you create for yourself this overall view and decide what you want to keep and what you want to let go. In this process, you can get expert advice. At MME, we ask our clients a whole series of questions that they can deal with. Our clients decide for themselves which answers they want our support for and which they want to tackle on their own. There is no time pressure! Estate planning often takes months or even years, because in between, personal reflection times and discussions with the family are needed. At MME, we ask our clients a whole series of questions that they can deal with. Our clients decide for themselves which answers they want our support for and which they want to tackle on their own. There is no time pressure! Estate planning often takes months or even years, because in between, personal reflection times and discussions with the family are needed. At MME, we ask our clients a whole series of questions that they can deal with. Our clients decide for themselves which answers they want our support for and which they want to tackle on their own. There is no time pressure! Estate planning often takes months or even years, because in between, personal reflection times and discussions with the family are needed.

Thesis 3: You should solve your problems yourself and not pass them on

In estate planning, old and open "construction sites" often appear, some of which our clients have been pushing for years. These range from the long-needed renovation of real estate, the overdue cleanup of contractual relationships to the end of outdated, ancient bank accounts. This life-planning phase, where you can count on our professional support, enables you to tackle (finally) these troublesome hurdles, clear them up, and get rid of them. Again and again, I find that our clients are usually relieved, because they have taken up and solved their own problems without burdening future generations.

Thesis 4: Transparency creates harmony

I regularly advise my clients to include their family, primarily the spouse or partner and offspring, in the second part of the estate planning process. The first part is about creating clarity and self-awareness and getting an idea of ​​which assets, rights and obligations, life and estate planning should be included. These considerations in the first part of the process can be discussed in the second part with the family and other relatives. Transparency can thus be created for all concerned. This is also the time when you can talk about possible inheritance withdrawals (ie lifelong benefits) and the inheritance instruments that you need for a mandatory estate planning for all (see thesis 5). An estate planning, which you discuss with all concerned and in which everyone knows what your thoughts on it, has usually a lasting effect. Transparency during life avoids unnecessary quarrels among relatives or in succession.

Thesis 5: Making nails with heads

Estate planning only has a sustainable character if it is supported by legally binding measures. These include marriage and inheritance contracts, wills, beneficiary declarations to insurances, usufruct agreements on real estate, property transfers and inheritance premiums, eg for professional start-up assistance or a home purchase, the establishment of charitable or family foundations and more. This phase of estate planning is usually governed by strict formal regulations and often requires the cooperation of the spouse or descendants (eg marriage or inheritance contracts), which is why expert support is essential. Just as important as estate planning is the preparation of a precautionary mandate. With this you name one or more persons of your trust who should decide for you,