The average person, if asked, would acknowledge that they should have a Last Will and Testament. But have you done it? Have you sat down and decided how you want your assets distributed upon your death?
Last Will and Testament
A Will is an essential element of life planning. Should you fail to prepare a Will, your assets will be distributed in accordance with government legislation - which may not reflect your own wishes. Perhaps more importantly, taking the time to prepare a Will can ease the pain for your family. A Will is an expression of your wishes.
Legal Will Kits are available from bookstores, for a nominal price, which are basically fill in the blank Wills. As long as you get two witnesses, they are valid Wills. However, there is value to seeing a lawyer, discussing your options, and having the Will prepared. A lawyer can point out various options, which you may not have considered. A lawyer can also help you appoint a guardian for your minor child(ren), protect the inheritance that your child(ren) may receive from possible future ex-husbands or ex-wives, or how to give that sentimental ring to your favourite niece.
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