BUSINESS NEWS - A paragraph or two in your will is not always enough to ensure your wishes are fulfilled after you’ve died.
To protect the inheritance and financial well-being of your child or spouse, you might need to consider a testamentary trust.
When it comes to planning your estate, one of the biggest fears a parent can have is that their child’s inheritance is wasted by a spouse. The same counts for married persons who fear the long-term safety of the capital they leave behind in the event of their spouse getting remarried.
To prevent such issues, a standardly worded sentence is normally used in the body of the will:
“The bequest to my spouse will be excluded from any joint estate or from any accrual claim or from the matrimonial powers of the spouse.”
Unfortunately, this is insufficient to protect your loved-ones’ financial stability.
