The content of a
will varies depending on your needs and what you want to accomplish with it.
You are able to create instructions for the distribution of your assets
and your estate after you pass away. In doing so, you are able to prevent
complications and the distribution of your property is not decided by
the state. A will can also prevent problems from occurring during the
probate process and can avoid tax consequences.
Estate planning altogether can prevent complications and allow for a smoother process
for your family after you pass away.
When it comes to wills specifically, the contents can include:
- Instructions for the distribution of your property and assets.
The appointment of a
guardian for your children.
- The designation of an executor to administer your estate.
There are restrictions to what goes in your will and these are important
to be aware of. While you have the power to decide where you want your
property to go, and who it goes to, there are requirements. The Testator's
Family Maintenance Act makes it mandatory that you provide support for
certain dependents. Dependents in this sense include your children along
with your widow or widower. The Matrimonial Property Act also holds a
requirement that your spouse is entitled to an equal part of all matrimonial
assets in your marriage.
The main purpose of what you put in your will is how you want to distribute
your property and plan for the care of your children. If you have questions
about what not to put in a will or about the process of making a will,
we are here to help. We are committed to helping our clients effectively
handle their estate planning matters. You can get started with a
free case evaluation at any time.
Call now for the guidance that you need.