Interesting facts about your Will
4 Feb 2016
- The person you nominate to be your executor is not obliged to accept that role.
- If, in your Will, you give a specific item to a beneficiary that you no longer own at the date of your death, the beneficiary simply misses out, they are not compensated in any way.
- You should update your Will if your circumstances change eg marriage, separation, birth of a child, death of a nominated executor or beneficiary to name a few.
- You cannot leave assets in joint names to another beneficiary, these usually go to the surviving owner.
- You usually cannot leave superannuation and life insurance to someone other than someone you may have nominated with your fund.
- No Will is airtight. You cannot stop someone making a claim against your estate, but you can put in clauses which will assist your nominated executor to defend any claim made.
For advice about your Will see one of the experienced Estate Planning solicitors at Bambrick Legal.
If you have any queries about this article, please contact:
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