top of page

To Will Or Not To Will?-Why Wills Are Necessary Documents To Your Property And Assets Management

You will find the need for David Disraeli Austin estate planning necessary for a number of reasons. Think of a probable case where you get passing on without leaving behind a will to get your beneficiaries valid titles to your assets and other items of your estate behind you. When such happens, then the standard procedure will see the estate of the deceased passing on to the government, considering the unavailability of a will to help in the transfer of the property to the would be beneficiaries. You are therefore well advised to look carefully at the structure of the estate you have to ensure that this creates maximum benefits to your beneficiaries.

The laws on taxation will be the first reasons calling on you to have a good plan for your estate. In several jurisdictions across the world, there will be serious impacts on the transfer of property if there are no clear guidelines on the manner of transfer of property and such will often attract capital taxes and income taxes in the end to the beneficiaries. If you did not receive the necessary professional financial advice for the creation of a proper estate plan from the right professional you will essentially get exposing your family to such taxations which are all but unnecessary and would have been avoided if a proper estate plan was availed. There are some rather complex considerations like where one wants to lay claim for dividend imputation credits and these will call on the concerned to avail testamentary trusts for evidence to the credibility of such claims.

Periods often close to one's last days are some of the parts which one will often overlook n their estate planning procedures, times when one is usually generally suffering from a lot of incapacitations. These seasons of one's life will always require the enduring power of attorney, enduring power of guardianship, living will or the advance health directives. The mentioned are legal documents which will stay in operation for the sake of planning for the estate and overall affairs of one when they are generally standing in long sickness periods and mental incapacitation. This will guarantee one the peace of mind that comes with a knowledge that their wishes are followed even as they face the end of their time down here.

The fact that one can today own property in other jurisdictions of the world all due to the global nature of our world all call for the need to have a good estate plan to have your interests in such assets well taken care of.

It is therefore important for one to consider receiving as much advise as possible in relation to their estate and property for them to get the best possible advice and secure their property even when they may not be around to offer a physical check over the use and enjoyment of such property.

For more info, check out http://en.wikipedia.org/wiki/Estate_planning.

 

bottom of page