At this time of the year, our firm would like to remind our clients of the importance of drawing up a Will, or updating your Will on a regular basis.
Changing circumstances which may necessitate a revision of your Will, include a marriage, the birth of a child, a divorce, the drastic deterioration in your health, or death of a family member or heir. Changes to the assets comprising your estate, e.g. the purchase or sale of a big asset such as a farm, house, should also be taken into account.
Changes in the applicable tax legislation may also mean that your Will, although it may comply with the formal requirements and correctly state your wishes, does not utilise the full possible Estate Duty deductions, or allow for changes to Capital Gains Tax in respect of loan accounts, for example.
Should you have queries about your existing Will or wish to draw up or amend a Will which correctly reflects your wishes, please contact our Estate and Trust Department for assistance.