10 Reasons for Making a Will
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1. To ensure your assets are distributed according to your wishes.
Without a Will strict legal principles will decide who will inherit your assets.
2.To provide for your partner
Unmarried couples will not automatically inherit on the death of their partner.
3.To provide for your spouse
A spouse will not automatically inherit any of the deceased’s assets.
4.To provide for step children
Step-children do not automatically inherit.
5.If you have recently divorced or separated
Getting a divorce or judicial separation does not revoke a previous Will where you may have specifically named your spouse as a beneficiary.
6.To appoint a guardian for minor children
In the event of your death you can ensure people you trust look after your children.
7.To set up a trust for beneficiaries
You can ensure that a portion of your estate is placed upon trust until the beneficiary reaches a nominated age.
8.To nominate an executor
Without a Will, a personal representative will be appointed to administer your estate. By making a Will you can ensure it is someone you trust.
9.To avoid unnecessary costs or family conflicts
Your wishes are clear in a Will thereby reducing conflict.
10.To deal with the issue of advancements
You can ensure any former payments to children are clear as to whether they should form part of your estate or not.