What is the significance of having a Last Will and Testament?
by Jade Wakefield | Candidate Attorney
A Will establishes that your assets and possessions are divided between those loved ones you wish to pass them on to. It is an enforceable document that specifies how everything you own will be distributed after your passing and who will oversee the assets until they are distributed.
In the absence of a Will, your assets would not be divided in the manner you intended. If you don’t have a current and valid Will, your wishes for who should inherit and what should be done will be based on how your estate is currently structured, not how you would have preferred it to be.
Once a Will has been created and has complied with the requirements of a valid will, it must be stored carefully together with all the supporting documentation for each item identified.