Is it time to update your will?
It may be time to update your will, if:
- You recently got married or are living with someone.
- You want to appoint a guardian or set up a trust fund for your children to ensure they are protected and cared for.
- Alternatively, your child/children have now have reached the age of majority and no longer need the provisions you put in place while they were still minors.
- You have started a business or your business has expanded, and you need to make provision for its future, ensuring it does not lose value and burden your estate.
- You have pets and would like to ensure that they are not put down.
- You were recently, or are in the process of getting, divorced, or are now separated from your partner.
- You wish to appoint or change the executor who will administer your deceased estate, or you want to appoint or change the trustee who will manage your minor children’s inheritance in trust.
- You want to protect your estate from paying excessive taxes or debts, or becoming insolvent.
- You want to support your favourite charity or donate your organs after death.
- Your current will was drafted and/or is kept by a financial institution, or is based on a standard document purchased from a newsagent.
Some of the reasons why you should update your will:
- Drafting a will and applying the appropriate estate planning strategies ensures the plans you worked so hard to put into place become a reality.
- A will gives your loved ones clarity and transparency, speeds up the administration process and avoids conflicts and disagreements.
- Your will protects your heirs from paying excess tax on your deceased estate, or having to sell your assets because of cash shortfalls or insolvency.
- Your will looks after your loved ones in financially savvy and cost effective ways. It guarantees that your nominated heirs receive their full inheritance.
- A will ensures your wishes regarding matters such as pets, organ donation, bequests to charity and burial versus cremation are carried out precisely as you wish.
- Through your will, you can appoint the most suitable people as executor(s), trustee(s) and guardian(s).
Please contact us on 021 683 4834 to ensure your peace of mind and the ongoing well-being of your loved ones.