Do you have a will?

Do you have a will? 

We all meet our maker one day and having a valid will is the best way to ensure your assets pass to those you love.

Wills aren’t solely for the aged.  When it comes to death in our early years, we younger generation have a tendency to believe ‘it won’t happen to me’ ... but it can and it does.  Almost everyone should have a will in place, just in case.

A will is a legal document instructing how your assets are to be distributed upon your death.  The purpose of a will is not solely to cover your assets, it can also be employed to protect your loved ones.  For example, if you have dependent children you can direct who is to look after them if you and your partner both pass away, and it can also let their nominated guardians know at what age they can receive their inheritance. 

If you die without a will you die ‘intestate’ which means that a fixed set of rules will be used to distribute your assets. This of course may not be how you want your assets dispersed.

The benefits of having a will are many, read Sally Tyrie’s Q&A on wills to find out more.

Money Smart not Money Short