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Making a Will
It is very important to provide for the people who matter to you so as to save your family and friend’s considerable distress, time and expense at what will already be a very difficult and upsetting time. From our experience, even the happiest of families can be reduced to arguments when a loved one dies without leaving a will.
Making a Will gives you the opportunity to decide what happens to your estate, when you die.
Importantly, if you fail to make a Will, you are said to have died intestate. When someone dies without leaving a Will, what happens to their property is controlled by laws known as the Intestacy Rules. This means that you take the risk that your estate will not pass to the people who you would have wished to benefit had you made a Will.
There are many reasons for making a Will and some of the more important ones are listed below:-
- To make your wishes known and to ensure they are carried out.
- To provide peace of mind and reduce the likelihood of family disputes later. Making a Will is usually simple and inexpensive.
- To provide for a Husband or Wife. When you die, your spouse may not receive everything. Your spouse may only receive part of it outright and a trust may have to be set up for the remainder. Only if you have no other living issue will your spouse automatically get everything.
- To appoint legal guardians to care for your children if you and their other parent should die before they are 18.
- To identify who you wish to act as Executors (the people who would deal with your estate). If no Will is made, the Intestacy rules specify who may apply to act as an Executor and this may not accord with your preferred wishes.
- To decide to leave something to your church or favourite charity (or charities).
- At the same time to consider making an Enduring Power of Attorney so that your affairs can be looked after by someone you know and trust if you become incapable during your lifetime. (See Enduring Power of Attorney )
Alternatively if you would like more information, or to make an appointment:
Telephone our experienced Wills and Estate Planning Team on 07 4662 2033
Email us at email@example.com