In law school, I recall the story about a pre-eminent author of a textbook on estate planning who died without a will. I'm not sure whether this story is true but it definitely did the trick in emphasising the importance of having a will.
You can read about the consequences of dying without a will in our October ClearLaw article.
What? This year, Cleardocs has expanded its estate planning suite of products with 2 Wills products:
· ClearWill Online – a comprehensive Will that anyone can make to express their wishes about their estate and protect their assets; and
· a more complex Will designed for use by law firms, ClearWill with Trusts for Law Firms.
Why? These products were developed in response to customer feedback. They were designed to be comprehensive, and flexible enough to cover a wide range of personal circumstances, such as blended families, will makers without children, will makers holding trust positions. And, at the end of the day, they were designed to make your estate planning as simple and painless as possible.
How? Through ClearWill with Trusts for Law Firms, lawyers can establish by will a range of testamentary trusts including:
· single and multiple testamentary discretionary trusts for specific gifts and the residuary estate;
· superannuation proceeds trusts;
· life interest estates;
· right of residence trusts; and
· protected trusts.
Who? Given the complexity of the features of this Wills product and the need for a will maker to obtain legal advice about them, this document package is available to law firms only. For non-lawyers to take advantage of this product, they should discuss it with their lawyer.
As always, we welcome your feedback and suggestions about these products.