22 Oct Wills: helping reduce family feuds and providing for multi-generational wealth
As life becomes busier and busier we tend to place some of the most important things on the to-do list and never get around to doing them. Having a valid Will is generally one of those things, however, it is important to note that there can be several consequences when a person passes away without one. Establishing a Will can help minimise uncertainty, stress and family feuds between surviving family members.
Creating a valid Will allows you to:
- Dispose of assets according to your intentions rather than through legislative schemes of distribution of assets;
- Provide adequate assets and funding for your family’s future;
- Provide benefits to friends and charities who fall outside of legislative distribution schemes;
- Exercise control of your assets so that they are managed appropriately to maximise the benefit to your beneficiaries;
- Minimise delays, expenses, taxes and other liabilities to the estate;
- Above all else, have peace of mind in leaving the legacy you wanted.
Once established it is still recommended to regularly review and update your Will. This is especially important if there have been major changes to your personal situation such as marriage, children, divorce or you have acquired assets.
Accordingly, it is recommended that you give yourself and your loved one’s peace of mind knowing that this is one decision that was not placed in the hands of someone else.
If you wish to discuss making a Will please contact our team on 03 8391 8411 or by email at [email protected] to make an appointment.