Your will may be the most important document you ever sign. Having a will, and having a properly drafted and executed will (a legally valid will), is important because:
- It allows you to direct how your estate will be distributed. It gives your intentions for your assets and personal possessions a legal status.
- If you do not have a will, or it is defective and cannot be proved, your property will be distributed in accordance with the rules of intestacy which may not be desirable for you.
- A will provides certainty for your family and friends.
- A well drafted will can reduce the risk of Court applications or litigation which would inevitably reduce the overall assets available for distribution to any beneficiaries.
- A well drafted will can also reduce any tax liability the beneficiaries may have on the distribution of assets to them.