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05 March, 2010

Thy will be done

The holiday deposit is paid, the car is full of petrol, all the children are accounted for and off you go. You know this will be the holiday of holidays! Sounds great! But, have you thought of everything?
In a time where you work to reach your next coffee break, paycheck or holiday, it is easy to imagine a little, insignificant thing like a "last will and testament" fall to the way side.
Like the old saying goes: "not planning, is planning to fail". This couldn't be more true for someone who dies intestate(without a valid will). How many times have you heard of a deceased estate that took a year or even more to be wound up? Imagine the financial implication for the surviving spouse and children. Or worse, what happens if both parents pass away?

Having a last will and testament is not something to conveniently forget about.

Consider the following before you contact a professional: burial/cremation, who will get what, who will be the guardians of the children should both parents pass away, how will finances be managed if both parents pass away, special bequests, compile a list of all assets and liabilities.

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