Settling an Estate can be complex or uncomplicated depending on how meticulously you have planned the devolution of your estate. Of paramount importance is the wellbeing and welfare of your family and is not a task you want to burden them with especially when they are overwhelmed with grief
Carefully executed estate planning also prevents family disputes if your instructions on the devolution of your estate are clear and succinct.
It is imperative to obtain professional advice from Attorneys or reputable Trust/Executor services especially if you have children, a spouse who is dependent on you financially, assets and liabilities.
- Drafting of a will
Your will must be in writing and correctly witnessed
- Executor
An Executor is one who assumes the responsibility of winding up your estate.He could be a professional, your spouse or Trustworthy family member who is capable of handling your affairs when you die.
An executor will identify, collect and value your assets and liabilities. He will also ensure your estate is administered expeditiously and that your liabilities are paid and assets are distributed as per your Will.
The Executor will then hand over the estate to the designated professional who will formally commence with the winding up of your estate