Where There's A Will...

Have you got a valid Will? If you’ve already made a Will, have you reviewed or updated it since there was a significant change in your life? You'll need to make changes to your Will to ensure that it still meets all of your goals. Below are some events that may prompt a need for review of your Will.

  • Has there been a change in your marital status (many states have laws that revoke part or all of your Will if you marry or get divorced) or that of your children or grandchildren?
  • Has there been an addition to your family through birth, adoption or marriage (stepchildren)?
  • If your spouse or a family member has died, has become ill or is incapacitated.
  • Have you acquired or disposed of a significant asset?
  • If your spouse, your parents or other family member has become dependent on you.
  • Has there been a substantial change in the value of your assets or in your plans for their use?
  • If you were to receive a sizeable inheritance or gift
  • Your income level or requirements have changed
  • You are retiring
  • You have made a change in your estate plan (e.g., you created a trust or executed a codicil to your will)
  • If you are a business owner, have you planned for the future of your business after you die?
  • If you’re a business owner, have you considered exit strategies from your business?
  • Do you know how much money your family would need if you died, became seriously ill, or totally or permanently disabled today?
  • Have you appointed someone to look after your affairs if you were to die or become incapacitated?
  • Is your income protected and if so, are the protection measures sufficient for your family’s needs?

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IMPORTANT DISCLAIMER:This newsletter is issued as a guide to clients and for their private information. This newsletter does not constitute advice. Clients should not act solely on the basis of the material contained in this newsletter. Items herein are general comments only and do not convey advice per se. Also changes in legislation may occur quickly. We therefore recommend that our formal advice be sought before acting in any of these areas.