The person signing the Will is described as the “testator”.  Individuals receiving assets within an estate are described as “beneficiaries”.

It is important that when drafting a Will it fully encapsulates the intentions of the testator.

As there are complex processes involved for the transfer of assets and the taxable consequences for transferring these assets, individuals should have solid awareness of these consequences.

The distribution of assets can be structured over a short or longer term after ones passing, with this being completed because of beneficiaries being under the age of majority, or because of taxable consequences, among other reasons.

Testamentary trusts can be included in a Will to provide for children and spouses/partners.

Instructions as to burial, cremation and other specific instructions or bequests are commonly set out in a Will.