|
There
are 6 steps that a person needs to take upon making his/her
decision to write a Will which are:
1)
Establish one’s wealth distribution objectives prior to nominating
beneficiaries and the estate allocation. Some of the objectives
would include to provide adequate income to dependents to maintain
their standard of living, to preserve family legacy and sentimental
assets as well as to provide for non heirs, special needs and
donations.
2)
Analyze and evaluate one’s state of assets by compiling all
the related documentations such as insurance policies, certificate
of unit trusts and others. This information gathering is essential
as the facts and figures are crucial to establish an accurate
one’s assets profile
3)
Nominate beneficiaries and allocate assets for them as per one’s wealth distribution objectives.
4)
Appoint a trustworthy executor with the capability to execute the Will in a reliable manner
5)
Get assistance from a reputable Will Writer to assist in writing
the Will
6)
Ensure that the Will is kept in a safe place and inform the Executor on
his/her appointment as Executor as well as the location where
the Will is to be kept
|