Your will lets you decide what happens to your money, property and possessions after your death.
If you want to update your will, you need to make an official alteration (called a codicil) or make a new will.
If you die without a will, the law says who gets what.
Upon death the payout will be enough to repay the mortgage but will leave no extra to help with other expenses.
Making choices about guardianship, in case parents die before their children reach the age of 18, is an important part of life planning for anyone with a family.
The best way to make this provision is in a legal will, complemented by a guardianship letter. Having this instruction appoints a trusted family member or friend to take responsibility for the upbringing of the child. This person is known as a guardian and by appointing them in advance; the parents avoid the uncertainty of leaving the decision to a court of law. We can also put in place various protection policies that will ensure financial support in your childs upbringing and future education.
POWERS OF ATTORNEY
Not a nice thought, but there may come a time in your life – or one of your family members – when you are unable to manage your financial affairs or personal welfare. This is a time when you will need someone who you trust to act in your best interests. Even when we are young, we can find ourselves incapacitated due to an illness or accident and it can be invaluable to have a reliable person who is able to manage your affairs, pay bills and give you peace of mind.
Creating an ‘Attorney’ in advance ensures that if the worst or unthinkable should happen, you can rest assured that both you and your finances are in a safe pair of hands.