Although many people associate legacy planning with only the ultra-wealthy battling over inheritances and business interests, in reality everyone needs a solid plan in place to manage what should happen to our assets. What is legacy planning? Legacy planning refers to the organisation of your personal and financial affairs to deal with the future scenario of death or possible mental incapacity. A legacy plan can also include your medical or healthcare directives so that you can ensure you receive your preferred treatment when you are ill. Why is it important? If you do not have a legacy plan, the management of your assets might go against your wishes after your death. For example, your money or property could be passed on immediately to children who might lack the maturity to manage the inheritance wisely. Another possibility is your wealth being distributed to unintended third parties in the event of your...