We recently observed ‘Wills Week’ when we were reminded of the vital importance of creating a Will. Ensuring that it is fully compliant and legally binding, however, is often overlooked. 

Furthermore, there are many inclusions to a will that could make a big difference to your family if certain unexpected circumstances arise, so the question is ‘’will your Will be what your family really need?’’

What makes it compliant?

Firstly, to ensure that your legacy will be observed in the way you want it to be, a Will should preferably be drawn up by an Attorney or a Financial Institution that fully understands and implements important legalities of the document itself, like who should sign it, credible witnesses etc.

Important inclusions 

The Will must include a comprehensive list of your assets and your chosen beneficiaries, and it is essential to appoint reliable, financially capable guardians for children – plus a qualified, experienced Executor to distribute the inheritance of minors and administer the expedient wrapping up of the estate. 

With effective inclusions and astute estate planning, you can even prevent your family members from losing their inheritance to their creditors should this arise.

Life Insurance and Estate planning is essential

Having drawn up an effective, legally binding will, the next thing you need to do is ensure that your family is financially protected when you’re no longer around – and there’s no better way to achieve this than through taking out effective Life insurance. 

It is the least expensive cover with potentially the largest payout and, providing your beneficiaries are named, it is paid out instantly on your death – unlike many other aspects of your estate.

Consult the professionals 

At Hereford Group we believe in the efficiency of effective Estate Planning and this is why it is an important division of our company. We can ensure that the wealth that we assist you in creating will also protect and be enjoyed by your family long after you are gone.  

Talk to us if you need expert advice on all matters relating to Wills and Estate planning. We are with you, in the living years – and beyond.