There is no single answer about how to do your Will. It all depends on your assets, your circumstances and who your beneficiaries will be.
You need to make a legally valid and binding Will that makes your wishes clear. It should avoid confusion and conflict amongst your loved ones. Doing this may avoid costly and stressful legal disputes between family and friends.
Your Executors have the legal and administrative task of sorting out your assets and debts after you die and making sure that your wishes as outlined in the Will are upheld.
You can designate anyone as a beneficiary and distribute your assets in any way you like, however if you do not provide for your family and dependents, this may result in later disputes. You should seek advice regarding the implications of not providing for someone in your will.
You should certainly review your Will after any major events, such as marriage, divorce, property purchase or sale, death of a beneficiary or if your assets change significantly. We also recommend that you take a look at your Will every couple of years just to make sure that it is still reflects what you want to happen with your estate after your death.
Contact us to discuss your particular situation and your family’s needs.