PROTECT YOUR FAMILY FROM UNCERTAINTY AND POTENTIAL CONFLICTS

Many people still lack a properly organised estate plan despite the numerous benefits of writing a Will—such as getting our finances in order, planning our legacy, and ensuring that our loved ones are well looked after.

By taking the proactive step to draft a Will, you can protect your family from uncertainty and potential conflicts, ensuring that your legacy is preserved according to your exact intentions.

If you haven’t done so already, now is the time to prioritise this important task and secure the future for those you care about most.

A WAY TO GET ASSETS IN ORDER

Making a Will often prompts a financial review. It typically identifies gaps in people’s financial planning—often inadequate life assurance or disability income benefit cover. If they’re in an occupational pension scheme, they may need to update their nomination of beneficiaries form.

Without a Will, Intestacy laws determine who inherits your estate and in what order. If you don’t have a valid Will, then effective state legislation steps in and provides a series of rules which you may not wish to apply to your assets and your family. It’s also relatively inexpensive compared to the problems you can create for your family without making a Will.

SPECIFYING SENTIMENTAL GIFTS IN YOUR WILL

We dedicate much of our lives to working hard to provide for ourselves and our loved ones. As we accumulate assets and cherished possessions over time, it becomes crucial to ensure that they are distributed according to our wishes when we are no longer around. Importantly, the gifts mentioned in a Will do not need to be limited to property or cash.

They can also include sentimental items with significant emotional value but less material worth. These could be family heirlooms, personal mementoes, or any treasured possessions that we wish to pass down to future generations. By specifying these sentimental gifts in our Will, you ensure that these meaningful items are handed down to those who will appreciate them most.

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THIS ARTICLE DOES NOT CONSTITUTE TAX OR LEGAL ADVICE AND SHOULD NOT BE RELIED UPON AS SUCH. TAX TREATMENT DEPENDS ON THE INDIVIDUAL CIRCUMSTANCES OF EACH CLIENT AND MAY BE SUBJECT TO CHANGE IN THE FUTURE. FOR GUIDANCE, SEEK PROFESSIONAL ADVICE.