A solid financial plan doesn’t only protect you while you’re alive – it also protects your legacy and ensures your loved ones are protected when you’re gone. One of the simplest ways to do this is by having a valid, up‑to‑date will.

This is the next short article in a series on practical, relevant, financial planning. The others can be found on our website here: Media Page

A will is a legal document that spells out your wishes after death. It is a final act of care and respect for your family. Without one, the law decides how your estate is divided, which can lead to delays, extra costs, unintended outcomes and stress for your family.

A will helps ensure:

• Your assets go to the right people
• Your estate is handled efficiently
• Disputes and confusion are avoided

Every person’s situation is unique, but most wills include:

• An executor to manage your estate
• Beneficiaries who inherit your assets
• Guardians for minor children
• Trusts, if needed, to manage assets on behalf of beneficiaries

Cash left to minor children is held in the government’s Guardian’s Fund unless your will specifies otherwise.

It’s also important to update your will after major life changes like marriage, children, buying property or changes in your business interests. This is one of the questions we seek to cover in an annual review.

We also offer practical resources to help you get everything in order:

• Will drafting – Access free, professional will‑drafting support through our legal professionals or our fiduciary partnerships. Reply to this email if you are interested.
• Life File – A very useful document (attached) to record important personal information such as key contacts, passwords and instructions your family may need. It will take time to complete but is a worthwhile time investment.
• Business Will Session – For business owners, a focused session to plan what should happen to your business if something happens to you.

A valid will removes uncertainty and lifts a major burden from your family.  If you don’t have one – or haven’t reviewed it in a while – we can help ensure it still reflects your wishes and aligns with your financial plan.  If this is you, please respond now and don’t ‘kick the can down the road’.