EST056 Protect your estate from these mistakes (578 words)

This article is designed to educate and prepare your clients for the often overwhelming task of estate planning. Five important components are discussed, which further break down the major issues that can arise if plans are not in place. A call to action is provided at the end of the article to seek professional help.

It’s a sad but unavoidable fact: one day we are all going to die. You will most likely have clear ideas as to how you would like your hard-earned wealth – your ‘estate’ – to be divided amongst your loved ones or other beneficiaries. However, estate planning is a complex area of law and basic mistakes can see Wills declared invalid, money end up with unintended recipients, or benefits reduced by avoidable tax bills. So how can you avoid making some of these mistakes?