A Will is a fundamental tool in estate planning, and is something every adult should have. At its most basic, a Will allows you to:
Appoint an estate trustee (commonly known as an “executor”) who will administer your estate and distribute your assets after your death. You may appoint one or more individuals or a corporation (such as a trust company). In your Will, you may also appoint alternate estate trustees to act if the primary trustee is unable for any reason;
Name your beneficiaries: Direct how your assets will be divided and distributed after your death;
Appoint a temporary guardian and custodian for minor children;
Create trusts for children, grandchildren or others who may be too young or for disability or other reasons require assistance managing their assets; and/or
Make charitable contributions after your death.
A properly drafted Will should also provide your estate trustees/executors with the powers they need to smoothly administer your estate even if circumstances change between the date of your Will and your death.
Whether you believe your wishes and circumstances are simple or complex, it is important to understand the effect of making certain choices.
At Berry Gage LLP, we will help you consider your options and understand the effect of your decisions and wishes. No matter what your personal and financial circumstances, and whether you consider them to be straightforward or complex, everyone is unique. Your final Will may be drafted simply or may be more complicated, but our estate planning process ensures you consider all of the relevant issues when making your decisions. Our estate planning process will provide you with peace of mind.