Ensure Your Assets Are Distributed According to Your Wishes
Creating a will gives you the authority to decide how your possessions such as property, savings, investments, vehicles, and personal items like art, are allocated after your passing.
Choose Who Will Handle Your Estate
By preparing a will, you can designate a specific individual, known as an executor, to oversee the administration of your estate and ensure that your instructions are followed.
Reduce the Risk of Family Conflict
A well-drafted will can help avoid confusion or disagreements among loved ones by clearly outlining how your estate should be divided.
Assign a Guardian for Minor Children
If you have children under the age of 18, your will should name a trusted adult to serve as their legal guardian, ensuring their care is planned for in your absence.
Provide for the Care of Your Pets
Your will can also include instructions for the care of your pets and allocate funds to the individual you trust to look after them.
Enhance Estate Tax Efficiency
Including your will as part of a broader estate plan can help minimise tax liabilities, allowing your beneficiaries to receive more of your estate.
Reflect Major Life Events
Having an up-to-date Will is crucial. Significant changes in your life, such as getting married, having children, or going through a divorce necessitate revisiting and potentially revising your will to ensure it still meets your needs.