Wills and Estates
One thing is certain in life… we are all going to die one day!
Having in place a valid Will protects your family and/or friends and loved ones from costly and stressful legal processes and disputes following your death.
A Will does not have to be complex or costly but there are certain things that need to be addressed to ensure that it is legally valid.
There is not one right answer about how to do your Will. It all depends on your assets, your circumstances and your wishes. There are many things to consider and we can offer you guidance and advice to ensure that you have a legally valid Will that best meets your requirements.
Who will be your Executors?
Your Executors have the legal and administrative task of sorting out your assets and debts after you die and making sure that your wishes as outlined in the Will are upheld.
Who will be your beneficiaries and what effect will their inheritance have on their circumstances?
You can designate anyone as a beneficiary and distribute your assets in any way you like, however if your Will is not carefully prepared and well structured it may be contested after your death which can be a very timely and costly process for your Executors to resolve.
You also should consider the effects that an inheritance may have on your beneficiaries. In some cases tax considerations are necessary, so it’s important that you get specific advice about your situation.
How often should I review my Will?
You should certainly review your Will after any major events, such as marriage, divorce, property purchase or sale, death of a beneficiary or if your assets change significantly. We also recommend that you take a look at your Will every couple of years just to make sure that it is still the best instrument for you and for your family.
We can help
We know the potential pitfalls, and will ask you all the right questions to make sure that you have considered every possibility. We can advise you as to the most appropriate structure for your Will and can design your Will in such a way to help protect your family from expensive estate administration or disputes after your death.
Contact us to discuss your particular situation and your family’s needs and we will assist you in preparing or reviewing and updating your Will.