Having a legal will drawn up is wise at any time, however when there are investment properties involved, it is even more paramount. http://www.epropertyrentals.com.au

1. Cover your Investment Property with a Will
As the saying goes, there are two things guaranteed in life, taxes and death. While no one likes
to think of their impending death, the fact is, it will happen, and we need to be realistic about it
and in some ways, prepare for it. One of the best ways to prepare for your departure from this
earth is to have a will drawn up. If you don’t have one it is highly recommended, particularly
when investment properties are owned. While many hope that their relatives will be able to
amicably sort out their assets in the event of their death, it doesn’t always work this way.
A current and valid will is extremely important. If you had the opportunity to find out what will
happen to your assets if there is not one, you would race to have one tomorrow. You need to
ensure that what you wish to unfold in the event of your death is legally documented. If this is
not done, then anyone who feels they are entitled may come forward and legal battles can
result as well as family feuds. Your Brisbane real estate asset may end up being swallowed up in
legal fees. Of course, the use of a lawyer is highly recommended when it comes to a will but if
you are unable to make it to an office to have a will drawn up then a hand written will should
suffice. This will need to be signed by yourself as well as two independent witnesses if possible.
Investment properties can become a tricky subject in the case of deceased owners and here’s a
couple of reasons why a current will is important. Many people incorrectly believe that when
they get divorced that their spouse is no longer entitled to their assets such as investment
properties, however, this is not necessarily the case. Unless there is a revised will drawn up
then they are still entitled if the old will states they are. The assumption that your children are
automatically taken care of in the event of your death is incorrect also, unless they are listed on
the up to date will. You can make changes to your will by either making additions or completing
a new will altogether, whichever way you choose, stating clearly what is to happen with your
investment properties is highly recommended.
If you wish any further advice on investment properties and the management of them, seek out
reputable and competent rental property management Brisbane. In all areas relating to your
investment properties, be well prepared and managed.
http://www.epropertyrentals.com.au