Why you need a will

A will is an important because it sets out in legal form how a person’s assets will be distributed after their death. It is important to ensure that your wishes are carried out and that your loved ones are taken care of in the event of your death.

Without a will, the distribution of your assets will be determined by the Intestacy rules. This distribution may not align with your intentions. A will allows you to specify who you want to inherit your property and assets, and in what proportions. You can include specific items of sentimental value, as well as more practical considerations such a right for your partner to reside in your house, if you want to pass this to your children eventually.

You can will is to appoint guardians for your children under 18 years. A will allows you to name a guardian for your children if both parents. This ensures that your children will be cared for by someone you trust and who will raise them in accordance with your values. We also make provision in our wills for the guardians or a nominated person to have the right to use part of your estate assets for the maintenance education and advancement of your infant children, to ease the burden on the guardian.

A will also allows you to name an executor, who is responsible for carrying out the terms of the will and distributing your assets according to will. This person should be someone you trust and who you feel can handle the administrative work of your estate. We assist executors in this administration, the getting in and correct distribution of assets, superannuation, shares, bank accounts and real estate.

A clear simple will can have an important effect in that It can also alleviate the potential for conflict among family members and loved ones over the distribution of your estate.

It is important to note that for your will to be valid, it must be executed in properly.  This generally involves signing the will in front of two witnesses, who must also sign the will. It is important o remember that the witnesses must not be beneficiaries in the will. It is also important to review and update your will regularly, as your circumstances and wishes can change over time.

A will is an important step in planning for the future and ensuring that your assets and loved ones are taken care of in the event of your death. It’s important to consult with a lawyer to ensure that your will is properly drawn up and executed and meets legal requirements for a valid will.