Even if all you own is a house or apartment, you should upgrade your ‘simple’ will to a more sophisticated will that provide mechanisms for your beneficiaries to be protected against creditors, predators, and the intrusion of income and capital gains taxes.

Is a short will a good will?

This common fallacy leads to arguments and disputes, as parties involved often argue about what is not said in a will. Our experience suggests that the more comprehensive the will, the easier it is to implement its intentions.

Flexibility in your will is very important. A ‘simple will’ forces your beneficiaries to take their gifts directly, which can prove costly and expose their inheritance to claims from creditors or unnecessary tax.

A smarter will keeps your beneficiaries’ options open, giving them the choice as to whether to take assets directly, or via a testamentary discretionary trust.