Estate Planning


The will

Notes on wills

A will doesn’t need to be drafted in a particular format. You can construct a very well thought out and complicated will or a simple will. However, the test will be when you die and whether the estate is distributed according to your wishes.

Wills can be challenged, especially if a family member misses out. Accordingly, it’s important that the will is constructed with a view to being effective when it’s eventually implemented.

Due to the complicated nature of estate planning, wills and asset distribution it’s highly recommended that you seek specialist advice. 

If you’re a potential beneficiary of a will it might be worth asking ‘How will I receive the money?’ This may save a lot of tax and heartache down the line.

It’s wise to review your will at regular intervals and when your circumstances change ensure it still meets your needs. This may require amendments to draft a new will.