A Will is a legal document setting out what you wish to have happen to your assets and belongings after your death.
Your assets are all of your possessions including any houses, land, motor vehicles, bank accounts, insurance policies, shares, jewellery, paintings, furniture. Everyone over the age of 18 years should have a Will.
Wills should be reviewed every two to three years or whenever a significant change occurs such as the death of a close family member, a birth or perhaps a divorce or remarriage.
Special arrangements can also be outlined such as disposal of body, organ donations and gifts to charity.
Appointing an Enduring Power of Attorney is giving someone the responsibility to manage your affairs including dealing with your assets and meeting your financial commitments in the event that you lose your capacity to make decisions. This could be as a result of a severe accident or illness or perhaps old age.
A Testamentary Trust is used mainly in relation to young children for disposing or utilising assets after the parents may have passed away.
Ballast Financial Services provides reviews to assist clients to reassess their personal circumstances and adjust their Wills as changes in life occur.
Ballast Financial Services offers a storage facility for Wills and Enduring Powers of Attorney. Many people utilise this service for the basis of always knowing where their legal documents are held.
For further information please contact us.