Making a Will: Ensuring a Secure Future for Your Assets and Loved Ones

The importance of safeguarding your assets and ensuring financial security for your family has always been paramount.

With a thriving business, valuable properties, and a substantial asset portfolio, the thought of what might happen to these possessions in your absence is often a source of concern. It’s not only about preserving wealth but also about ensuring that your hard-earned assets benefit future generations. 

Here, we want to share a journey and insights into crafting a comprehensive Will — an essential step for anyone looking to protect their properties and assets effectively.


Understanding the Importance of a Will

A Will is a legal document that outlines how your assets will be distributed after your death. 

For many people, with a considerable portfolio of properties and business interests, having a Will is crucial. It provides clear instructions on who inherits what, thereby preventing potential disputes and ensuring that my wishes are honoured.


Initial Steps: Assessing My Assets

The first step in drafting Will was to assess all your assets comprehensively. This included:

  1. Primary Residence: Family home, a place filled with memories and the centre of your life.
  2. Rental Properties: The real estate investments that generate a steady income stream.
  3. Business Interests: Ownership stakes in my company and any associated valuations.
  4. Personal Assets: Cars, bank accounts, investments, and other valuables.


Having a clear inventory helped in understanding the value of your estate and how it should be distributed.


Choosing Beneficiaries

Next, Decide on the beneficiaries. It’s about ensuring your spouse and children are well taken care of. Discuss this with your spouse to align on how you wanted your assets to benefit your children and possibly even future generations. 

This conversation sometimes requires tough decisions about the share of your assets.


Appointing an Executor

An Executor is someone who ensures that the terms of the Will are carried out. Choose a trusted family member with financial acumen and a good understanding of your business operations. The Executor needs to be someone reliable, as they will handle the distribution of assets, manage any estate tax obligations, and settle debts.


Legal Guidance and Drafting the Will

Our seasoned guidance will give you value in understanding the legal nuances and crafting a Will that is both comprehensive and tax-efficient. We can help in:

  • Drafting the Will: Ensuring every detail was recorded accurately.
  • Setting Up Trusts: For your minor children to manage their inheritance until they come of age.
  • Tax Planning: Structuring the Will to minimise inheritance tax and protect the value of the estate.


Securing and Updating the Will

Once the Will is drafted, it should be securely stored, with copies provided to your Executor it’s important to review and update the Will periodically, especially after major life events such as the birth of a child, acquisition of significant assets, or changes in the business structure.


Peace of Mind

Creating a Will will give you immense peace of mind. Knowing that your assets are protected and will be distributed according to your wishes provides a sense of security and fulfilment. 

It allows you to focus on growing your business and enjoying life with your loved ones, without the constant worry about the future.


Conclusion and Call to Action

Crafting a Will is not just about legal formalities; it’s about taking control of your legacy. For someone like you, whose life revolves around building and protecting wealth, ensuring that your family continues to enjoy financial security even in your absence is the ultimate goal. 

The process is a significant step in responsible asset management and a testament to the love and care for your family.

Take the first step towards securing your family’s future today! 

Contact The Legacy Wills Company and book a discovery call with one of our expert advisors. With over 25 years of experience in Estate Planning, our team will provide the personalised and tax-efficient strategies you need to ensure your assets are protected.


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Client Testimonial

“Having seen John of Legacy Wills present at a property event, it was clear he had both the breadth of knowledge and experience and also the ability to make a very dry subject both understandable and engaging. That’s a tough call when talking about Wills, Trusts and death. John produced Wills and POA’s for myself and my wife in a timely, effective and reasonable manner. I have subsequently recommended him to numerous colleagues and friends to cut out the jargon and challenges surrounding this critical protection, which is too often deferred or neglected.”

Dan Norman