WHY DO YOU NEED A LAST WILL & TESTAMENT?
So many people don’t see the importance of will, perhaps because they think their estate is too small but this simply is not the case.
A Last Will and Testament is a very important legal document that is the first pillar to any good estate plan. After determining that you need an estate plan, Amadwala Fiduciary Services will recommend either a will-based estate plan or a trust-based estate plan. Your Last Will and Testament will take on significantly different roles depending on the type of plan you choose.
With a will-based estate plan, your Last Will and Testament will provide all of the essential details of who will inherit your property, when and how they will inherit it and who will be put in charge of settling your final affairs.
If you have minor children then you’re Last Will and Testament will also cover a very important point: Who will serve as the Guardian for your minor children until they become adults? What will happen with their inheritance? We can assist you to make sure their inheritance will be safely preserved in a Testamentary Trust, who shall utilise as much of the income and/or capital, at its discretion as it may deem necessary for the maintenance, education, general welfare and benefit of the beneficiary.
WHAT HAPPENS IF YOU DON'T HAVE A LAST WILL & TESTAMENT?
What happens if you fail to make a Last Will and Testament before you die? Then the country that you live in at the time of your death, as well as any other country where you own real estate at the time of your death, will provide a Last Will and Testament for you under the country’s intestacy laws. These laws vary widely from country to country and can cause different people to inherit your property if you own real estate in more than one country.
The only way to insure that your property will go the beneficiaries that you choose, as opposed to the beneficiaries that your country of residence or the country where you own real estate chooses for you, is to make a valid Last Will and Testament.
Without a Will and Testament your minor children’s inheritance will go to the state’s Guardian’s Fund.
Amadwala Group of Companies has a Fiduciary Company which is registered at FISA to assist you in all you fiduciary needs. From the drafting and advising of your Last Will and Testament, up to the winding up of your estate after death, cost on the winding up of the deceased estate can be negotiated in advance.
Our registered and accredited Financial Advisors will assist you in a comprehensive financial estate analyses for the purpose of Estate planning and unnecessary Executor’s fee’s and Estate duty.