beneficiary
Special trusts are those which are created for people with special needs, for example individuals with serious mental or physical disability and who are unable to provide for themselves financially.
Friendships and relationships evolve over time, and it may be that some of the trustees you nominated no longer fit the bill when it comes to administering your assets in the best interests of your loved ones.
Despite the fact that you may have nominated a beneficiary (or beneficiaries) to your retirement fund, it remains the function of the trustees to allocate and apportion these funds.
If the executor you have nominated in your Will has subsequently emigrated from the country, now is a good time to amend your Will and nominate someone who is locally based.
If you have minor children, not making provision for a testamentary trust can lead to problems and unintended consequences after your death.
The need to revise one’s Will is generally triggered by certain events such as the birth of a child, marriage, divorce, the death of a beneficiary or executor, or gaining property that is not part of your existing will.
If you have minor children, the other parent will be the legal guardian to your children in the event of your death. However, in the case of simultaneous death or where the other parent is no longer alive, the state
Now is a good time to ensure that your emergency funding is immediately accessible and that your loved ones can access it quickly and with minimal red tape.
Even a seemingly insignificant oversight can change the meaning of your Will entirely and lead to unintended consequences.
