7 Truths about Wills

Think You Know Wills? Here Are 7 Things to Consider

Your Will does not just deal with what assets you leave to your loved ones, it can also cover funeral arrangements and guardianship of your children.
Your assets do not always automatically go to your spouse or partner if you pass away without a Will. The law determines how your assets are divided If you pass away without a Will, and therefore may not be distributed as you intended.
The legal age for a person to receive an inheritance is 20. You can however stipulate in your Will that a beneficiary is to receive an inheritance at an older age, if you think that would be more appropriate.
You may not always need to set out specific wishes regarding use of your assets for your minor children. The law provides some flexibility for using your assets to benefit your minor children, such as for their education and medical needs.
The law sets out prescribed signing and witnessing requirements for a valid Will. It is therefore important that you obtain the correct advice to ensure you have a valid Will.
If you make a Will before you are married, it is no longer valid after you are married.
If your Will is out of date when you pass away, it will still be used when administering your estate and distributing your assets.

Whether you are wanting to make your first Will, or wish to update an existing Will, our friendly team are here to help!

Andrea Matson21 September 2021