It is important to know the assets that are in your estate. When you are preparing your Will, you must mention these assets and ensure that every asset goes to the person or persons you want them to go to. The assets in an estate in Barbados are either tangible or intangible.

Tangible assets are assets that you can see and touch on a daily basis. These assets are the ones that you will usually find in a Will. Land, houses, commercial buildings, vehicles, tools, furniture are all examples of tangible assets. And how could I forget one of the most important tangible assets: Cash!

When you are preparing you estate plan, remember the difference between tangible and intangible assets!

By Corey H.D. Beckles, Attorney-at-Law