Having an effective estate plan will assist in protecting your assets in a tax effective manner and ensure distribution of these assets to your beneficiaries in accordance with your wishes,
A Will is an essential Estate Planning document as it appoints your personal legal representative (executor - who has the duty to carry out your wishes by administering your estate by collecting assets, paying off any debts and distributing the assets) and names the people (beneficiaries) that you want to receive your property and possessions after your death.
While writing your own Will using a DIY kit may seem attractive from a cost viewpoint, it can be a risky approach to take. If errors are made or if witnessing rules are not followed correctly that DIY Will could be invalid. In such an event, the estate will pass according to the statutory rules of intestacy.
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