Everyone should consider making a will, and when you think about different issues involved you will invariably encounter questions that you will need legal advice.
The most common areas of concern for people are:
Condominium property: Jointly owned property with another person can sometimes present problems on death, depending on the nature of your condominium. If property is condominium owners as the survivor will inherit the whole property upon the death of the other, regardless of the terms of any will. However, if a property is co-owned as tenants in common, you can leave your respective shares in the property to your chosen beneficiary according to your will. If you are uncertain about the consequences of the condominium, it is essential that it be explained to you by a legal professional, so you can be sure that your will process your property that you want.
Unmarried couples and civil partners: Many unmarried couples know their legal rights on death and how to provide each other in their wills. By law civil partners now have the same rights as married couples. The situation is more complicated for unmarried couples who do not automatically have the right to inherit property from each other and in these circumstances, it is especially important that your will is properly drafted to protect your partner. If you’re in a relationship you should consult a lawyer to make sure your partner is provided for the event of your death.
Potential claims by third parties: If you do not provide enough for those who depend on you in your will, this could eventually result in a claim against your estate – whatever wishes you have made in your will. The Act allows the dependants make a claim where they consider insufficient was planned for them by your will. If you want to exclude a member of the immediate family of your wishes for any reason you should ensure that you get legal advice on how to minimize the risk of such a claim.
Provide for children under 18: If you have children under 18 and are concerned about their education and well-being when you die, you can appoint someone you trust to be their guardian. This can help to avoid legal arguments that will take care of your children in case of death. If you have children under 18, you should also consider how they would be provided for financially after your death. A will ensures that the financial future of your children will be secure.
Provide vulnerable and disabled beneficiaries: If you are a responsible for adult beneficiary who is unable to care for themselves or manage their own business, you should consult a lawyer to ensure that any inheritance. You leave for that beneficiary will give them the protection they need. Most are often receiving a large inheritance mean that some State benefits enjoyed by your beneficiary will cease. If this is something that concerns you, writing a trust in your will could help. A trust can appoint a trustee to assist your beneficiary to manage their assets. It also protects all the legacy beneficiaries to be means tested enabling them to receive their inheritance without losing their entitlement to benefits. If you have vulnerable or disabled beneficiaries who you want to inherit, you should consult legal advice on how best to provide for them in your will.