Things to Consider
What would happen to my estate if I died without a Will?
Click to view the Intestacy Flow Chart
Do I need to appoint Guardians for my children in my Will?
If you don’t make a Will and you are a parent of young children then you will have no control over who looks after them should anything happen to you. In such circumstances, the courts will appoint someone on your behalf- someone you may not have chosen.
If you do make a will, then you can appoint guardians of your choice, who will look after your children until they reach the age of 18.
What is an executor and who should I appoint?
An executor of a Will are the person(s) that you appoint to administer your estate according to your wishes. These are usually close family members, close friends, whoever you would trust to carry out your wishes. They are responsible for everything they do or fail to do in this regard. You need to ensure that the people who are going to carry out those wishes have got the attributes needed to do it, honesty is important, but they also need to be team players.
They need to be able to be able to make decisions about financial and other matters, in the interest of the beneficiaries as a whole and not just themselves.
How should I protect my business?
To answer this question we must consider the following –
- Do you want your business to continue after your death?
- Will your family be the right people to run your business or would they be better off to sell the business?
- It is important to discuss these matters with your Will Writing consultant who will be able to advise you on ways to make sure your intended beneficiaries don’t miss out.