testamentary will step 3

This next step, is 3 towards preparing to make a Will. It lists how you want your property to be distributed. Who does and gets what? The below, though not exhaustive may be used as a guide to assist you

• In terms of cash, for whom and how much? for example; your spouse, former spouse, children with former spouse; family, relatives, friends, business associates charitable organizations, educational or other institutions
• In the event that both you and your spouse are killed at the same time e.g. plane or car crash, How do you want your property to be distributed
• Who do you want specific personal possessions to go to (describe the item(s)in detail)
• Do you have alternative beneficiaries in case designated beneficiaries predecease you or cannot be located
• Consider setting up a testamentary trust for some or all of your assets to be managed on behalf of your spouse and children
• For minor and disabled children, decide what age you want them to have access to their trust
• Would you want your executor/trustee to have the power to manage any investments to maximize returns before liquidating and paying cash to the beneficiaries  
• Who would be better to manage the investments an individual or a Trust company 

Should you have any other specific instructions you should include them on your list and discuss the implications with the person assisting you with preparing your will