Wills & Estate Planning
One of the most important things that you will do in your lifetime is write a will. There are many valid reasons to write a will. Some of them are listed below:
- It is the only way of ensuring that your wishes for your assets are respected after your passing.
- It makes dealing with your assets easier for your loved ones.
- You can choose and name in your will one or two Executors who will ensure that your wishes are carried out.
- It allows you to plan for the tax implications of passing on your assets.
- If you have children it allows you to nominate guardians to look after them in the event of your passing prematurely.
- If you do not make a will the law decides how your estate will be divided. The law will also determine who will take charge of your estate.
- In cases where there are no next of kin the State is entitled to the assets of a deceased person. The only way to avoid this happening is to write a valid will.
- Some people think that when they write a will they are giving their property away as soon as the will is signed. This is not the case. The wishes expressed in your come into effect on your passing. If your circumstances change your will can be amended to reflect your new wishes.
- At certain times in your life your will should be updated, for example, if you get divorced, when your children are born, when your children reach the age of majority, when your financial circumstances change, if you have sold property that you have referred to in your will.
Why make a will?
If you answer yes to any of the following questions, you should consider making a will… read more >
Please contact Michelle Gilbourne for a consultation.