WHERE THERE’S A WILL!
Everyone knows what a will is, right? Well, it might not be so obvious to some.
A will is a legal document that sets out how you want your assets to be distributed after you die.
Some people are either confused or reluctant to have a will but by not having a will, you may be putting those who care about you the most to unnecessary stress and worry. There is enough stress today and we do not need to add to it.
The best thing to do is to stop procrastinating, take the plunge, have a will drafted and then it’s job done!
By having a will, you have created several benefits for family and loved ones. In short, you will have provided for the ones you love, made specific gifts to certain people, appointed a trusted person who can be relied upon to carry out your instructions, made gifts to charities and made clear your wishes about funeral arrangements.
Even though you might not have a lot of money, you may have other kinds of property that you want distributed in a certain way. Any possessions or financial resources will generally become part of your estate.
Making a will is a very simple and straightforward process ensuring you have the say about how your estate is divided. If you do not have a will when you die, you will not have a say about the distribution of your estate and your estate is then distributed according to a set of rules. Your estate could even end up in government hands.
Future articles will include Power of Attorney and Enduring Guardianship as these two documents do lead to wide misunderstandings which we will dispel. In short Power of Attorney concerns financial resources and Enduring Guardianship is concerned with medical treatment and other services.
Making a will is generally easy and not costly. If you want to discuss making your will or estate planning in general, call Lance at Grech and Bannerman Lawyers, Baulkham Hills on 8853 1700.
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