All adults should have a professionally prepared Will. Your Will is a legal document that takes effect upon your death and identifies who will manage your estate and who should benefit from your assets.
Legal requirements for a valid Will
There are various legal requirements to ensure your Will is valid and that your wishes can be carried out by those you have appointed. Significant financial and emotional hardship may be suffered by your loved ones if your Will is not professionally prepared by an experienced solicitor.
When should you consider reviewing or renewing your Will?
As your personal circumstances change you should also consider reviewing your Will.
The birth of children or grandchildren, the purchase or sale of real estate, the death of a beneficiary or executor are times when you should have your Will reviewed by an experienced solicitor. Getting married, becoming separated or divorced trigger other legal consequences that are relevant to estate planning, you should not delay seeking advice from an experienced solicitor should one of these events occur.
To die without a valid or complete Will means you die intestate and your estate is divided and administered pursuant to legislation enacted by Parliament and potentially at a greater cost in administering your estate. The persons who benefit from your estate if you die intestate might also not be those you wish to have benefit.
For drafting of your Will or to have your current Will reviewed contact Andersons Solicitors today.
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