Estate – What you should know
Estate planning
We may have heard the term “ESTATE” and wondered about the meaning, but most people have a misconception of what an Estate is. We are going to explain, in a very casual way, what an Estate is.
When a mother expects a child, the parents are excited and plan for the baby: a room, clothing, a name, and they may even dream about the unborn child’s future, but few realise that, with the birth of the child, certain responsibilities arise.
- The child, firstly, has to be registered with the local authorities after birth, but the hospital authorities normally do this automatically.
- Without registration no one is able to get an identity document, passport, employment, a bank account or anything else.
- We might think that the reason for this is to enable the government to control statistics, etc. Yes, this information could be handy for a government, but the main reason for registration is that an ESTATE IS REGISTERED.
The meaning of an estate is “a property or possession” and for this exercise we will see the meaning as “a right to posses or own”. On being born, YOU are a minor and after the estate is registered, you are the managing director of your own Estate …
