Will and Estate Planning

Wills and Estate Planning

Estate Planning relates to how well you plan for what will happen in the event of your death, to ensure your family's well-being and financial security. It is a critical element of any retirement plan and it gives you some control over what will happen to your assets when you die. It gives you the chance to choose who will make decisions on your behalf.

Regardless of your estate size, it is crucial to have an up-to-date Will, to ensure that your assets are distributed as you intend and to avoid the will being disputed.

It's not expensive to draw up or review - but it is probably the most important legal document you will ever sign.

Why estate planning is important

    If anything happens to you, you want to know that your loved ones are looked after.
    It can ensure that your assets directly improve your family's financial well-being, and help them avoid the emotional distress of dealing with your finances.
    It protects your assets from disputes between family members, or from legal proceedings involving your family, such as bankruptcy or divorce.
    It means your assets are distributed in the most tax-effective way for your family.

What will estate planning cover?

A Financial Adviser or an Estate Planning Specialist can assist you in reviewing your current situation and thinking about issues such as:

    whether your will is up-to-date and valid and provides for your family's immediate cash needs
    whether your will could be disputed
    who will look after your dependants
    any tax issues that could impact your Estate
    whether your family could face any family court or bankruptcy issues
    the timing of your bequests is the most effective
    other unique family circumstances.


Do I need a Will?

Whether your estate is large or small, it is important to have an up-to-date Will to ensure that your assets are distributed in the way that you intend. A valid Will also minimises the chances of any misunderstandings, arguments or added emotional distress for those you leave behind.

The cost of drawing up or reviewing a Will is quite inexpensive for most people. It's a small price to pay for peace of mind.

If you already have a Will but it hasn't been reviewed for some time, or if you have any legal questions about your Will, it is best to seek advice. For a free consultation contact us.