What abandoned mansions teach us about succession planning

Just walk around the city of São Paulo to come across several abandoned mansions. These large houses, from 500 to 2,000 m², have faded in the most valued regions of São Paulo, as well as their eternal "Selling" or "Renting" signs. Of course, there are several factors for this to occur: whether it is the lack of haste to obtain liquidity or the high maintenance cost, especially those that are overturned, as there is a greater demand for eventual reforms.

But there are factors that could be avoided: legal obstacles, long legal disputes that involve many of these properties, or the lack of resources of the heirs to pay the taxes that involve them. Well-executed estate planning can act as a safety net that helps preserve the value of assets, minimizes the waiting time for heirs to receive their share, and helps ensure the preservation of the family legacy.

But estate planning is not just for mansion owners. Everyone, regardless of financial status or age, can benefit. Whether through donations, a will or an international structure, succession planning expresses your will on how your assets will be transferred. It organizes your business and leaves a written record of your wishes and intentions, it indicates how you want your property, belongings, money and financial assets to be distributed so that there is no financial and emotional drain.