The Easter holiday season is once again upon us and with the COVID-19 pandemic, for the most part at least, behind us, many people will be travelling to holiday destinations. Travel always contains a certain element of risk and we have written many articles at this time advising on the important insurances to be put into place before we leave our homes and take our long earned break.
Amongst these are household and vehicle accident cover, income protection and disability insurance, all of which will stand us in good stead in the unfortunate chance of an accident, but perhaps the most important thing we need to do is take life cover and ensure that we have a well-drawn up legally compliant Will!
A will is peace of mind
Not only when you embark on holidays but at any stage of your life, from the day you begin to earn and create something worth leaving behind, a good Will needs to be in place. Once this is done you can experience the peace of mind of knowing that your loved ones will benefit from your legacy with a reasonable chance of survival, education and growth, without you still bringing home the bacon!
Your Will is possibly the most important document you will prepare in your life if you truly care about their well-being – and why is that? Failure to draw up a proper Will can lead to disastrous and unintended consequences at a time when your family is most vulnerable. Assets can be frozen and the wrapping up of Estates can be drawn out for months or even years. This is why it is It’s critical that you use a professional to draft your Will and we can help.
There is more, however, to protecting your loved ones, or whoever you have chosen to receive your legacy, than just drawing up the will. Ask yourself these important questions…
Who will administer your estate and have control over it? – So many people make the mistake of leaving this to a relative because they have the family’s interest at heart, but it often turns out that they are over their heads when it comes to the sometimes intricate facets of administering an estate.
Who will you appoint as suitable guardians for any minor children? – Some parents also choose Godparents because they are their best buddies or family members, but have you seriously considered if they would be suitable parents for your children and be able to expertly administer your estate in their biggest time of need?
To whom will your assets be distributed? – Wills are put in place to ensure that whatever your estate consists of the right people will receive exactly what you want them to receive and there will hopefully be no squabbling over who gets what. Make sure your life policies and other policies that bear income at the time of your death also have specific beneficiaries for each policy, just to help to simplify things.
Trust us to do your Will your way
Because at Hereford Group we know that everyone is different, we can be trusted to ensure that your Will is carried out your way. Our specialist Attorneys are at hand to guide you through this important process, ensuring that your Will complies with the strict legal formalities prescribed by the Wills Act and ensuring that your true wishes, as simply and clearly as possible, are carried out.
Remember that our Fiduciary department also deals with every aspect of estates, like trust creation and administration and deceased estate administration. Contact us to discuss your specific requirements and you can leave this vitally important aspect of your wealth profile in our capable hands.
Bon voyage – travel safely – and now you can go with peace of mind!