The Significance of having a Last Will

YOUR ESTATE

If you have a Last Will

· You decide the distribution of your estate upon your death.

· Minimise any family disputes.

· Determines the “who, what and when” of your estate.

If you do not have a Last Will

· There is no guarantee that your intended wishes will be carried out.

MINOR CHILDREN

 

If you have a Last Will

· Make an informed decision about who should take care of your minor children.

· Appoint a guardian of your choice to raise your children

If you do not have a Last Will

· The court appoints a guardian for your minor children at their discretion.

THE MANDATORY COURT PROCESS

If you have a Last Will

· Speeds up the probate process and informs the court about how to divide your estate.

If you do not have a Last Will

· The court decides how to divide your estate without your input, which can cause unnecessary delays 

PEACE OF MIND FOR YOUR WHOLE FAMILY

If you have a Last Will

· Minimises the stress and bureaucracy that your loved ones have to manage at a time of grief and sadness. 

If you do not have a Last Will

· Loved ones will have to deal with lawyers and potential family disputes at a time of grief and sadness.

MANAGING YOUR AFFAIRS

If you have a Last Will

· You decide to make sure your affairs (including paying off bills, cancelling credit cards, notifying banks etc) will be wound up by a person of competence of your choice.

If you do not have a Last Will

· There is no guarantee that your affairs will be wound up properly 

DISTRIBUTING YOUR ESTATE PER YOUR WISHES 

If you have a Last Will

· You can disinherit individuals who would otherwise stand to inherit and make sure that your estate is distributed as per your wishes.

 

If you do not have a Last Will

· Your estate may fall into persons to whom you did not intend to such as an ex-spouse.

HOW MJ LEGAL CAN HELP?

 

· Working with MJ Legal provides you the ability and authority to change your will at your discretion e.g. upon the changes to your circumstances such as births, deaths and divorces.

· Protecting your new family.

· If you are remarried and have a new family, you can make sure that your new family is provided for.

· To certify identity before distribution, before financial institutions release monies of a deceased person, they need to verify that they are dealing with someone who has the legal authority to deal with the deceased affairs.

· The grant provides that assurance and confirms the validity of a will.

Grants are not always needed. However, you should contact each asset holder and make sure whether a grant is needed or not before releasing monies.

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