Q: When should I make an estate plan?

A: Whilst none of us like contemplating our own mortality or losing the ability to make decisions for ourselves, not doing so can leave you vulnerable and unprepared for when incapacity or death does strike.

Dealing with the issues of your estate and putting in place appropriate plans will ensure you, your wealth, your family and loved ones are protected should the worst happen.

Estate planning is not just for those who are retired either. None of us have the ability to predict the future or know for certain when illness, accidents or death will occur. Putting an estate plan together early is good practice. Don’t forget this can always be changed later to fit with new wishes, personal circumstances or changes in the law.

No matter how much “wealth” you own, estate planning is good practice. It can mean a great deal to families with modest assets. By planning out taxes and costs, inheritance can be significantly increased and improve a family’s financial situation.

Q: What happens if I don’t have an estate plan?

A: It’s important to remember that if you don’t have an estate plan in place then the authorities have one for you – and it’s probably not going to represent your express wishes.

Whether you think you don’t own enough, aren’t old enough, are too busy, have plenty of time ahead of you or are just confused by the whole process of planning your estate and writing a Will, then now is the time to give us a call and get the answers. Seek help. Do not be shy. In this matter the only daft question is the one that you did not ask.

Q: Why should I make an estate plan?

A: There are a number of very good reasons why you should make an estate plan:

  1. To organise your records and beneficiary designations.
  2. To ensure your wealth and fortune goes to those that you choose (not who the law chooses).
  3. To diffuse potential family conflicts over who inherits what.
  4. To minimise taxes.
  5. To avoid the costs and delay in probate and administration of your estate.
  6. To ensure that your affairs are taken care of as you wish should you become mentally incapacitated.