Insights

The Top 6 Reasons You Need a Will: Insights from Envestpro Wills & Estates

March 14, 2024

Creating a will might not be at the top of your to-do list, but it's crucial for securing your legacy and ensuring your loved ones are taken care of in accordance with your wishes. Here are key reasons why having a will is essential:

1. Professional Estate Administration Ensures Efficiency and Compassion

The administration of your estate can be a complex and emotional process for your family. Having a will that appoints a professional executor, like those at Envestpro, means your estate will be managed efficiently and with compassion, significantly reducing the burden on your loved ones during a difficult time.

2. Purpose-Driven Trusts Protect Your Unique Legacy

Your legacy is as individual as you are. By including purpose-driven Trusts in your will, you can ensure that specific provisions are made for minors, individuals with special needs, or any unique circumstances within your family. Envestpro’s tailored Trust solutions, like the Children’s Trust, Provider’s Trust, and Widow’s Trust, ensure that your exact wishes are followed.

3. Immediate Liquidity Relieves Financial Pressure

The immediate aftermath of a death can place unexpected financial pressure on your family. A will that incorporates mechanisms like Envestpro's Immediate Liquidity™ can provide your loved ones with quick access to funds, ensuring they're not left in a financial lurch when they need support the most.

4. Continuous Financial Support During Estate Settlement

Without a will, your family may face financial uncertainty while your estate is being settled—a process that can take months or even years. Including solutions like the Estate Overheads Protector™ in your estate planning ensures that your family’s daily expenses are covered during this period, maintaining their financial stability.

5. Reduce Executor and Trust Fees to Maximise Inheritance

Executor and testamentary trust fees can significantly diminish the value of your estate left to your beneficiaries. A well-crafted will can include stipulations for covering these costs through solutions like Envestpro’s Indemnity Plan™, ensuring your legacy is maximised for your loved ones.

6. Avoid Legal and Familial Complications

The absence of a will can lead to your estate being distributed according to standard legal procedures, which might not align with your personal wishes and could inadvertently exclude significant people or causes. It also increases the risk of disputes among family members. Drafting a will with Envestpro guarantees that your intentions are clearly documented and followed, helping to prevent potential conflicts and ensuring a smooth succession process.

Envestpro Wills & Estates is here to guide you through the intricacies of creating a will, ensuring that your legacy is protected and your loved ones are cared for as you intended. Don't leave the future to chance; take control by planning ahead with a will.

This blog post is intended for use by financial intermediaries. The information in this blog post is provided for information purposes only and should not be construed as the rendering of advice to clients. Although we have taken reasonable steps to ensure the accuracy of the information, neither Fabio Brogneri nor any of his subsidiaries accept any liability whatsoever for any direct, indirect or consequential loss arising from the use of, or reliance in any manner on the information provided in this document.

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