What is a Will?
A Will is a legally binding document where a person makes provision for how they would like their estate to be distributed after their passing. Your estate includes your; cash, property, shares, assets and liabilities.
What are the benefits of a Will?
There are many benefits to having a Will in place. By clearly identifying and recording your specific wishes upon your passing through a Will, your family and beneficiaries are protected from any additional and unnecessary stress or confusion at such an emotional time.
A Will aims to:
- Avoid the chance of any intended beneficiaries being adversely affected financially; and
- Reduce the risk of family disagreements relating to the distribution of the estate
Your estate may not be distributed as per your wishes if you do not have a current and valid Will. The disbursement of your estate may also incur additional costs or tax liabilities for your beneficiaries.
How does a Will work?
A Will needs to have specific elements and terminology to be legally binding otherwise it may be challenged after a person’s passing.
It is important to update your Will regularly to reflect different stages of your life such as; marriage, divorce, becoming a parent, buying or selling property or other life changing events.
We can make sure that your wishes are recorded in a Will and explain the tax and financial implications that your decisions may have. We can also assist to assess whether your Will and other Estate Planning measures are current and valid. Contact us today and we can assist you to update or implement your Estate Plan to suit your individual circumstances by referring you to a solicitor who specialises in this area and works closely with us.
How can we help you?
Contact us today to organise an appointment with an Estate Planning Specialist Solicitor.
We provide a holistic service and can assist you in all areas of your financial life.