Even the most carefully structured estate plan will fail without a properly drafted will.
An up – to - date, valid, signed will, is an integral part of your estate plan.
It will ensure that your assets are distributed according to your wishes without unnecessary delays, thereby ensuring your peace of mind.
DO YOU HAVE A WILL IN PLACE?
IS IT UP TO DATE?
After all it is probably the most important document you will ever sign!
The eventual fate of everything gathered during your life is decided by your will. A will is a written, legal document in which you say how your assets are to be disposed of after your death.
It may be the most important document you will ever sign!
Every person should have a will. Without a will, your heirs could face tax, legal and administrative problems and lose money. Even if all your blood relatives are dead, a will is needed otherwise your property will eventually be forfeited.
A will is a personal document in all senses of the word. Your will must be tailor-made to fit your individual and financial circumstances. We need therefore to sit together and plan it.
Dying intestate, can present serious financial, tax, legal and emotional complications for the deceased's family. No one knows who must oversee the process of distributing your assets, nor to whom what must go.
Your family home may have to be sold to satisfy how a court deems your assets should be split. Or it may have to be sold to pay estate duty taxes!
Many neglect this fundamental necessity because they don't want to think about the inevitability of death; this selfishly ignores the interests of the living who will (or should) inherit.
Others can't be bothered because they don't think they will leave much of value; yet many have "hidden" assets such as pension rights.
Everyone should have a will, even if it leaves all to a spouse or child.
In case of a divorce, a will can prevent the ex-spouse squandering, or re-marrying and the new spouse laying claim to the inheritance.
Estate planning doesn't end the moment you sign your will. Your financial situation will almost certainly change and tax laws may change.
Births, marriages or deaths may alter the dispositions you wish to make.
Should you marry or get divorced, or have a child, radical changes will be required.
So review your will at least once a year and whenever there's a substantial change in your finances or family situation.
MAKE SURE THAT YOUR FAMILY WILL HAVE FINANCES TO LIVE ON, WHILE THE ESTATE IS WOUND UP.
This can take many months. Your bank accounts are frozen and no one can get cash from them. Overdraft facilities can be withdrawn. Access bonds are frozen. Your credit cards are frozen. There's no cash available! Borrowing from relatives is embarrassing.
Your spouse may be forced to sell assets for cash FAR below their value.
LIFE INSURANCE IS THE ONLY REAL METHOD OF DEALING WITH THIS CASH SHORTAGE. IT PAYS A SUBSTANTIAL TAX-FREE LUMP SUM, VERY QUICKLY
In association with Estate & Testamentary Services, We offer the following high value services:
Personalised customer service and high quality output in the drafting of Wills, Deceased Estates and Testamentary Trusts is essential to us.
We have 36 plus years of experience been working in the administration of Estates field.
We pride ourselves on giving professional, efficient and personalised service to all our clients and strive to make the drafting of Wills and Estates process as hassle free as possible.
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