We are here to prepare a tailor-made Will for you depending on your situation and needs. Yes, you can purchase a template online and DIY, mind you, what you are paying for is a template with lots of blanks for you to fill in, it is not a Will per se. By filling in the blanks, you probably would be making guesses based on your “knowledge”. What would you do when you are sick? You would go to see the doctor instead of consulting the internet and self-diagnosing, right? But why would you rely on the internet to generate a “Will” for you and refuse to consult a professional? Not to mention if your DIY Will is full of mistakes, the legal fee can become unbearable when your executors go to the court to seek interpretation/guidance of your mistaken Wil. Spending the insignificant amount of money during your life time to have a professionally drawn up Will in place definitely worth every penny!
By having a Will in place, you can:
Appoint executor(s) and trustee(s) – executor is the person who administers a person’s estate according to the deceased’s Will. Essentially, the executor will (1) obtain a grant of probate from the court with the Will, (2) call in assets of the deceased (such as closing bank accounts), (3) pay off outstanding liabilities and bills of the deceased and (4) distribute the deceased’s estate to the beneficiaries according to the Will. If the executor needs to look after the assets for a beneficiary, for example, because the beneficiary is a minor, the executor will put on the trustee hat and look after the assets until the beneficiary obtains a certain age. Therefore, often, the executor and the trustee are the same person.
Appoint guardian(s) for your minor children – the guardian is the person who has a duty to ensure the care and upbringing of the minor child if the child’s parents are not around. The guardian will be responsible for every aspect of the child, basically from food, clothing, shelter, schooling, recreation to medical treatments.
Distribution – be it assets that are of monetary value or assets that are of sentimental value, you can decide who to give your assets to if you are not around.
Pets – you can decide the future arrangements for your pet – who would be the best person to receive / care for your best non-human friend!