A Will is possibly the most important document you will ever prepare and whether your estate is large or small, we encourage you to have a valid Will. A Will clearly sets out how you want your money, property and possessions distributed should you pass away.
What is a Will?
A Will is a legal document setting out:
- who you wish to control the distribution of your estate (the executor);
- who you wish to distribute your estate or assets to; and
- if you have children under the age of 18, who you wish to be the guardian of those children.
Why do I need a Will?
A Will puts you in charge of how your money, property and possessions are distributed after you pass away. It also gives you peace of mind that your family will be taken care of according to your wishes.
What will happen if I die without a Will?
Dying without a valid Will is called intestacy or dying intestate. If you don’t have a will when you die, your money, property and possessions will be shared out according to the laws of intestacy instead of your wishes. This can mean they pass to someone you hadn’t intended, or that someone you want to pass things on to ends up with nothing.
How old do I need to be to make a Will?
You need to be at least 18 years of age and of sound mind to have a Solicitor make a Will for you.
What does an executor do?
The executor is the person or persons that you nominate to be in charge of the administration of the estate following your death. Usually the executor will be a family member or a trusted advisor, such as your accountant or Solicitor. The executor’s role is to distribute your estate in accordance with your wishes.
Making a Will is an important part of preparing your estate plan, which may also include a Power of Attorney and Advance Health Directive. Estate planning is critical for individuals from all walks of life as it ensures appropriate arrangements are in place to take care of your loved ones should you unexpectedly pass away.
Estate planning may also involve maximising the value of your estate by introducing strategies to reduce taxes and other expenses. It may be as simple or complex as your needs dictate.
Should you be physically unable to attend our offices we are more than happy to arrange an in home visit to ensure your needs are met with minimal discomfort to you.