Your Will becomes effective only upon your death. It provides instructions to your executors/trustees regarding how your assets and liabilities are to be disposed of at that time.
- Prepare your Estate Net Worth;
- Assess your life insurance needs (for survivors’ needs, liquidity or to enhance an estate);
- Present estate planning issues such as:
- Intestacy (dying without a Will);
- Appointment of executors/trustees and alternates;
- Timing and distribution of assets to beneficiaries (outright or using testamentary trusts);
- Tax considerations;
- Guardianship of minor beneficiaries;
- The impact of family law provisions; and
- Other important clauses.
- Tax plan for your estate;
- Discuss potential conflict between your beneficiaries;
- Plan for your business succession and wind-up;
- Prepare Will instructions to the estates lawyer;
- Review draft legal documents; and
- Provide Executor/Trustee Services.