"Looking after your loved ones" Article by Tina Zawila

I considered calling this article, Death and Taxes, and then I thought – no-one will read it!!  As Benjamin Franklin famously said, “in this world nothing can be said to be certain, except death and taxes”.   However, for many of us, these are topics we would rather not discuss.

Whilst, as an accountant, tax is something I deal with every day, fortunately I do not have to face the other one of life’s certainties very often.   However, I am acutely aware of the difficulties families and loved ones can face, if arrangements, including a valid will are not in place.

So with that in mind, I recently commenced the process of having my own will prepared - although I’m not planning on going anywhere for a while!   Obviously, I engaged a professional to assist me with this process, and I have to admit, he needed a lot more information than I expected, and challenged me with some questions, that I really wasn’t prepared to answer.

Dealing with someone’s assets, liabilities and personal wishes is not an easy task for those left behind.  It is vital that arrangements are documented, and it is so important that we have had conversations with our loved ones and those responsible for our estate, so that they clearly understand our desires.

For a business owner, this process may be even more complicated, particularly if you are in business with someone who is not part of your family. 

Have you got a Will?

Did you engage a professional to have your Will prepared?
Is you will valid?
Do you need assistance in determining your assets and liabilities?
At Sothertons, we are committed to looking after your financial well-being, and we recommend that you aim to be “financially well-organised” and that includes having a valid will in place.  This task is something I have “put on the back burner” for too long, however, I now feel relieved to know that my loved ones will be looked after, and that the process of attending to my estate will be as “smooth” as possible.