SHOULD I HAVE A WILL?
So many people do not have a WILL. The reason many believe that a WILL is meant for people with 'lots' of money...or famous! It is possible you may have the same views.
Let's look at what the WILL is designed to do.
Basically a WILL allows you to SELECT who will inherit your assets (possessions) or in the case of minor children who do you wish would be their guardian if you die, finally whom would you prefer to be the Executor of your estate. The reality is that if you die without leaving a WILL, the legislation will determine how your assets will be distributed.
So, by writing a WILL, you ensure that your hard-earned possessions are divided among your chosen beneficiaries. You also ensure that the estate administration process of your estate is fast-tracked as you would have nominated the Executor. Not having a WILL means you are leaving this to the Master of the High Court. The process could drag for months on end, potentially resulting in your loved ones without income!
Some of the advantages of drafting a WILL amongst others are, that:
- It limits family disputes.
- It expresses clearly your wishes when you no longer there.
- Minor children's Guardians are named. You may not want your children to leave with an estranged relative or someone you have no close relations.
- It provides you an opportunity to ensure that heirs with special needs are catered for.
You can avoid these consequences easily by drafting a clear and precise WILL. Contact us today or your Financial Advisor to get your WILL going!
Do not waste time, take action today - September is a 'free' WILL drafting month.