Preparing a Will
A will is a private legal document setting out how you would like to give or manage your assets and, where appropriate, give guidance for the guardianship of your children in the event of your death. Without a will, property and money is distributed to family members in shares as described under laws of Hong Kong. A will can provide the following instructions, including (not limited to):
- Directing to whom assets are given, including specific amounts of money (subject to legal restrictions);
- Appointing guardians to take care of your children;
- Setting up trusts for your children and spouse;
- Continuing or discontinuing a business;
- Directing your funeral;
- Donating money to charities;
- Donating your organs for transplant;
- Applying special provisions where your death is the result of a fatal accident.
Weir & Associates can assist in drafting a will which clearly sets out your intentions and instructions in the event of death. We encourage clients to review their wills periodically to determine whether amendments are necessary to reflect changes in their lives.