Get Your Affairs In Order – Review Your Will

In the recent Budget Statement, the Minister of Finance confirmed that government's priority is to eliminate the deficit and that it has a three-year plan to achieve this goal.

That statement serves as a reminder that a regular review of one's own financial affairs and proper estate planning are crucial for the personal and financial stability of the family.

In particular, you should consider appropriate updates to your Will if any of the following events have occurred:

Changes in legislation and government policy.

It will be important to keep abreast of tax changes in Bermuda and to review estate planning techniques such as lifetime gifts and reservation of benefit, to ensure that any planning achieves the desired end. Dual nationals should also consider changes in legislation and tax reform in the countries in which they hold citizenship. For example, in the United States, annual inflation adjustments are often made to estate, gift and generation