What to Ask Before Preparing a Will
Planning for the future is not just a task, it’s a reassurance. A will is a crucial legal document outlining your estate wishes and ensures that your assets are distributed according to your desires. It’s a way to minimise potential conflicts and provide peace of mind for your loved ones.
As you embark on the journey of drafting your will, remember that you are the key player in this process. Consider asking yourself these essential questions:
- Who do you want to be the executor of your estate? An executor is a person you trust to carry out the terms of your will. They will be responsible for managing your estate, including distributing your assets, paying debts, and handling legal matters. Consider their trustworthiness, financial knowledge, and availability to handle this significant responsibility.
- Who are your beneficiaries? Determine who you want to inherit your assets. This can include family members, friends or charities.
- What are your specific wishes for your assets? This is your chance to leave specific items to particular individuals or charities based on your sentimental or practical reasons. It’s your control over your legacy.
- Do you have any particular circumstances or concerns? If you have minor children, consider appointing a guardian. You may need to address succession planning if you have a family business.
- Do you want to create a testamentary trust? A testamentary trust can help manage your assets and protect beneficiaries, especially if they are minors or have special needs.
- How often should you review your will? Life circumstances can change, so reviewing your will periodically is essential to ensure it reflects your current wishes.
It is important to receive guidance when drafting your will, Law Team on the NSW Central Coast can help you work through all the wishes and requirements that you have. They offer a convenient online intake form that allows you to easily provide the essential information to get your will started.
With Law Team, you can:
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- Choose your executor and beneficiaries;
- Specify gifts of personal items;
- Create a testamentary trust;
- Address any special wishes or circumstances; and
- Consider your personal legacy.
- If you have complex needs or require personalised guidance, Law Team will arrange a consultation to discuss your situation and discuss all the essential steps of planning your legacy.
Don’t delay in planning for the future. By creating a well-crafted will, you can ensure that your wishes are carried out and provide peace of mind for your loved ones.
What to Ask Before Preparing a Will
