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WILLS, ESTATE PLANNING & PROBATE

Contact us to find out more or to arrange a consultation with an experienced estate planning lawyer at Peter R Purcell & Associates.

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Creating a will is a crucial step to ensure that your wishes are carried out after you pass away.  Here’s why making a will is so important:

   Distribution of Assets: A will allows you to specify who will inherit your assets such as property, investments, savings, and personal belongings. Without a will, the distribution of your estate will be decided by the laws of intestacy, which may not align with your wishes.

   Guardianship of Dependents: If you have children or dependents, a will allows you to appoint guardians who will take care of them in the event of your death. This ensures that your children are cared for by someone you trust.

   Executor of Your Estate: In your will, you can nominate an executor, the person responsible for administering your estate and ensuring your wishes are carried out. This simplifies the process for your loved ones during a difficult time.

   Minimise Family Disputes: Clear instructions in your will can help prevent disagreements and disputes among family members about how your estate should be divided. It provides clarity and reduces the potential for conflict.

   Tax Planning: A will can include provisions for tax planning, potentially minimising the tax burden on your estate. This can be particularly important if you have a significant estate or complex financial assets.

   Peace of Mind: Creating a will offers peace of mind knowing that you have taken steps to protect your loved ones and that your wishes will be respected. It’s a way to ensure that your legacy reflects what matters most to you.

   Legal Requirements: In many jurisdictions, if you die without a will (intestate), the distribution of your assets will be determined by state or provincial laws, which may not align with your intentions. Making a will ensures that your wishes are legally documented and enforceable.

   Changing Circumstances: Life is unpredictable, and your circumstances may change over time. It’s important to review and update your will periodically to reflect major life events such as marriage, divorce, births, deaths, or significant changes in your financial situation.

In conclusion, making a will is a responsible and proactive step to protect your family and assets, ensure your wishes are honoured, and provide clarity and guidance during a difficult time. It’s a way to leave a positive legacy and make a potentially challenging process smoother for those you care about.

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