Wills and Estate Planning
Things you should know
- The wrong choice of witness could potentially invalidate a gift given in your will.
- A carelessly-drafted will could trigger a Family Provisions claim.
- Appointment under a power of attorney is not the same as appointment as an executor under a will.
- Life changes may affect your will. For example, marriage could invalidate your will.
The Mulally Mylott Difference:
- We draw on our significant experience and expertise drafting both complex and simple wills to produce the right will for your needs since 1964.
- Our experience includes high net-worth individuals.
- We offer branches that are both local and part of a network, so your will is safe with us. If it’s ever needed, we’ll guide you or your family members with care and consideration.
- Our services are also offered in Turkish and we can otherwise arrange an interpreter at your request in other languages.
Why would you need this service?
Wills are an essential protection for families. To ensure your wishes and funds are made easily available for family members and friends upon in the event of your death.
Making wills is widely understood to be important, but many people don’t realise the full range of implications that can be caused by having either no will, or a will that’s carelessly written.
If you die without a will, the law of the state will decide how to split your assets. Aside from the potential for insufficient long-term provision to be made for your loved ones to pay bills and living costs. In the worst-case scenario, some or all of your assets could end up going to the state instead of your family or some other institution or persons that you would otherwise have preferred to benefit from your estate.
Poorly-drafted wills can also:
- Lose the benefit of statutory protection of assets, such as life insurance policies.
- Trigger a Family Provisions Claim.
- Leave out people that you would like to benefit from your estate.
- Give inappropriate gifts to beneficiaries.
- Lead to long term and expensive administrative that is not appropriate or necessary.
The writing of wills by a Lawyer ensures that assets are distributed according to your wishes, but also that full advantage is taken of legal structures that can protect them and secure the most favourable tax arrangements for your family’s benefit.