Basically anyone who is 18 years of age or over should have a Will. The Will is the document that directs the executor to deal with your property pursuant to your instructions in the Will upon your death. The Executor is the person who has the role of carrying out your wishes pursuant to the.
I thought we might just talk about some of the issues in relation to succession planning. Most people think it applies just to farmers but anyone involved in a business should be looking at a process of how they are going to hand over the business or the farming enterprise to children or family members..
People become trustees to look after funds or property for other people. The most common role we see is that in Estates. When a person dies with a Will, the Executor after the administration of the Estate if there is still property to be held as trustee, then it automatically becomes the Trustee. If there.