Do I need to prepare a Will?

DO I NEED A WILL? This question is posed time and time again to our office. In short, it makes life (or after life) easier if you have clearly directed your relatives and persons you intend to benefit under your will (1) what assets you have (2) where they can be found and (3) how you wish to have them distributed. The very nature of life is that any one of us can die, at any time. A Will allows for a more ordered distribution of our assets, after our funeral expenses and debts have been paid. Things to consider when drafting and preparing your will. Who you would like to be responsible for administering the Will. Whether one or more persons. Whether you want the probate to be done through a particular law firm. What assets do you have (Bank accounts, credit union accounts, jewellry, land, houses, insurance policies, cash in hand, bonds and shares). We have cases where persons include furniture and antiques as part of their distribution under their will. You would also need two (2) person to witness your signature. It is often recommended that the executor or executrix appointed and the witnesses be younger that you, so that they are likely to live longer than you to facilitate the administration. We trust that you have found the information helpful and would direct you accordingly…In our NEXT post…..WHAT HAPPENS IF WE WERE TO DIE WITHOUT A WILL?