Your will sets out how your assets should be dealt with after you have passed on.
Regardless of age it is important to have a will, especially if you have property, investments and special possessions such as family heirlooms. Your will should also be reviewed every few years to ensure it covers the changes that inevitably happen during your life.
If you happen to die without a will, there are default provisions in the law that determine who gets what. These are called rules of intestacy, and the process can be long and protracted.
Sometimes your family circumstances are straightforward and in that case, Wain & Naysmith Lawyers can help you with a simple, plain-English will.
Sometimes there are particular issues to take into account, for example factors arising from second relationships. There may be competing interests between children from the first relationship and children and/or spouses from the second relationship.
For older people, there are other issues, and family matters to consider. Wain & Naysmith Lawyers have extensive experience in elder law, and can help protect you and your loved ones.
Enduring Powers of Attorney
At the same time as reviewing your will, it is wise to set up Enduring Powers of Attorney (EPAs). An EPA enables someone else (that you nominate) to legally make financial and/or medical decisions on your behalf if you become mentally incapacitated.
A family trust is an effective way to protect your home, property and investments, and provide for your family. A family trust is a separate legal entity governed by a Trust Deed.
All of our lawyers can advise on whether a family trust is right for your situation, and can set up the trust in a way that is best for you.
Careful planning and flexibility for when circumstances change is important when setting up a family trust