Benefits of making a will

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Benefits of making a will

Would you like to decide and have control over who inherits your property on your death? If so you should make a will setting out your wishes.

If you fail to make a will  legislation will determine who gets your property and who gets to take care of the estate and distribute the property.

By making a will you can:

 

  • plan who receives specified property

 

  • make alternative arrangements for benefits to pass

 

  • consider the taxation consequences

 

  • appoint a person you trust to take care of the estate and distribute the assets

 

A will does not take effect until your death so you are free to do what you want with your property until then.

Circumstances change over time so you should regularly review your will.

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Disclaimer

The material in this article is for general information purposes only and does not constitute legal or taxation advice. Specific legal and taxation advice should be sought before acting. All information and taxation rules are subject to change without notice.

No liability whatsoever is accepted by M. McLoughlin & Co. for any action taken in reliance on the information in this article

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