Monday Musings - Have you figured out what to give up when you retire? Research shows that to “enjoy” a pretty basic standard of living when you retire you would.Read more
One of the most common questions I encounter is When should I write my will? And how often should I review it?
The will writing triggers are not age, but the big life events – the purchase of your first home, the birth of your child, blending your family and assets with a new partner’s (especially if you’re not planning to marry), or any other significant event that might impact on the way you think about your finances or guardianship of young children.
And what about those who have wills already? Ideally you should look to review your wills every 5 years. That might sound like a lot, but its surprising how much can change in a short period of time. Effective estate planning should be intimately connected to your financial planning; up to date with the ever changing needs of your family and, for example, current tax legislation.
Expert guidance from an associate knowledgeable in finance as well as inheritance law can prove an invaluable resource to protect your assets. Straight Talk offer free initial consultations and charge fixed fees for any items you may need to produce, so there are never any nasty surprises.
You should also keep track of exactly what assets you have and how your executors can access them, when the time comes. A single simple resource of information that will give them everything you need to administer your estate with as much ease as possible. Straight Talk can help here too. We have a clear and simple to fill in booklet “What I have and where I keep it” that our clients fill in and keep. Anything that will simplify the process of probate for your loved ones can give real peace of mind for you and them.
Our free “What I have and Where I keep it” booklet can be ordered from the Contact page.