The Lawyer's Lunchbox

A Word about Wills

We have heard from Warren Buffett declaring "I am not an enthusiast of dynastic wealth". Buffett in effect is devolving his wealth being the shares he owns in Berkshire Hathaway to the Gates Charitable Foundation during his lifetime. Perhaps on his death he will have nothing to will having given away all he owns during his lifetime.

For you and I making a Will is about the devolution of the assets you own at your death. Assets that do not count are jointly owned property such as family home that is held in joint names with your surviving spouse. Ditto for jointly owned bank accounts. Superannuation assets often do not count. Nor does non-vested interests in Family Trusts.

All the above however does need to be brought into account when drafting a Will.

posted by brett hayton @ 6:48 AM