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SIX THINGS TO CONSIDER BEFORE YOU MAKE YOUR WILL

By March 13, 2020November 10th, 2021No Comments

So, you’re sitting down and about to gift your worldly belongings ….

Before you do, consider the following:-

  1. What do you have to give? A house? A bank account? A business? Or, is it more complicated than that? Make a list and check it twice (oh, and include the debts).
  2. Who do you trust to manage your estate after you die? Who will do the “right” thing by you? Note: not usually a good idea to choose someone older, sicker or lacking integrity for this role!
  3. Cremated?  Buried? Cocooned in a casket and fired out to sea with full military honours or buried in the family plot at the local cemetery?  Do you have a funeral plan?
  4. Who will take care of your children?  Especially if you and your partner die? No, you can’t sell them on Ebay and gift the proceeds.
  5. What do you want to give to whom? A specific gift or simply sell the lot and divide into parts? Is there someone with a special need? A trust (if so, consider 2. above again).
  6. Who have you left out?

 

If you would like to discuss the answers to the above questions with our principal, Kym Chapman, please contact her on 0416102577.

Kym Chapman & Associates provide legal advice for Northern NSW and have offices based in Byron Bay and Cabarita.