(and how to avoid a nightmare situation for your loved ones)
There are numerous complications if a parent dies without a Will, as your spouse and children would inherit your estate together. How does a Will protect your family from unnecessary expense and additional complications? If you die intestate any sale of fixed property that takes place, needs a Court Order to be obtained to sell a minor's portion and this is a very costly exercise. If you own any fixed propery, instead of the children and spouse inheriting it together, you can bequeath the whole property to your spouse in your Will (or to a Trust if you prefer). Another point to bear in mind relating to fixed property in an estate, is that usually the bank will require the bond to be cancelled and a new bond registered. Will your spouse qualify to take over your existing bond without the benefit of your income? If not, your family may face having to sell the property to pay up the bond. This is why it is so important to have insurance cover to pay any outstanding amount owing on your bond. So, if you are a parent with minor children, or have friends or family members with minor children and no Will, please contact me to set up an appointment. Our Wills are provided free of charge and we need only an hour of your time. (to make sure your family is secure and cared for after you are gone)
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