Do you have a will?

Do you have a will?

This is a question that we ask at least one person every day. The answer we like to get is ‘yes’, however, we get a lot more ‘no’s than you’d think. Having an updated will ensures that your estate is handled accurately and competently.

A couple more questions you may ask yourself:

“Who should I have as my estate trustee (formerly referred to as an executor/executrix)?” The estate trustee is essentially the business manager of the estate. Ensure you have the proper person acting in that role. Ideally they would have a bit of business acumen, and would have peace keeper traits. Ensure that this person will carry out your wishes the way you want them. Remember, when you pass away, your estate trustee can take creative license with your funeral plans. An estate trustee has the power to change your wishes from burial to cremation, or cremation to burial, so ensure it is someone you trust.

“I am young, shiny and beautiful – why would I need a will?”

If you have children, real estate, or any complications within your family, you should have a will. Remember, you do not need to amass a fortune for a will to be relevant. If you and your spouse were to pass suddenly and unexpectedly, who would you want your children to live with? Or, if you are a single custodial parent, perhaps you would want the children to live with your parents, or your sibling instead of the other biological parent? Without a will, many of these challenging questions are answered without your input.