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A will is more than just a legal document; it's your final say on how your assets are distributed. It's a way to ensure your loved ones are taken care of and your wishes are respected.
Why a DIY Will Can Be a Risky Business
While a DIY will might seem like a cost-effective option, it's easy to make mistakes that could have unintended consequences. A poorly drafted will can lead to delays, disputes, and even invalidate your wishes altogether.
What Makes a Good Will?
A well-crafted will typically includes:
- Executors: These are the people you trust to carry out your wishes. Choose them wisely, as they'll be responsible for managing your estate.
- Beneficiaries: Clearly state who receives what, including specific amounts or percentages of your estate.
- Guardians: If you have young children, appoint guardians to care for them in your absence.
- Specific Bequests: Want to leave your vintage record collection to your best mate? Or your favourite painting to your niece? Make those special gifts known.
- Residual Estate: Don't forget to mention what happens to any assets not specifically mentioned elsewhere in the will.
Life Changes, So Should Your Will
Remember to update your will whenever your circumstances change. Major life events – like marriage, divorce, births, or deaths – can all affect how you want your estate to be distributed.
Let Us Help
At Town Close Financial Planning, we can guide you through the process of creating a will that is clear, comprehensive, and legally sound. Ensure your final wishes are carried out exactly as you intend.