Why
should I make a Will?
-
A will
allows you to decide who gets your property when you die. You might have
friends, family, clubs or charities that you wish to benefit. By having
a will, you can ensure that this is done.
-
The
law says that a person who dies without a will has their property divided
according to a set formula. The wishes of a person dying without a will
are irrelevant. If you die without a will your property may not go to
the people to whom you would wish it to go. A de facto spouse, for example,
has no automatic claim to a share of your estate at present although this
is under consideration..
-
A will
can provide a guardian for your children on your death. This means that
a close friend or member of your family can act as a parent for them.
Your will can also set up trusts to provide financial support for your
children.
-
A will
can include directions for your burial or cremation.
-
There
is usually less cost in distributing property under a will than there
is in distributing it without a will. Without a will, your family may
have to prove relationship to you. This can cause delays and expense.
-
Everybody,
whether they have much or little property, should have a will.
Who
can make a will?
How
long is my will valid for?
Your will
is valid until you:
This means
that if your circumstances change it is very important to take account of
the changes in a new will.
When
should I make a new will?
-
On
marriage
-
On
entering a de facto relationship
-
On
divorce
-
On
separation
-
On
the birth of children, grandchildren or other people who you wish to include
in your will (unless already covered)
-
When
you decide you want to change who gets your property under your will.
Should
a solicitor prepare my will?
Wills are
different from most other documents in that in the event of doubt as to your
intentions you will not be there to assist. It is important that there are
no doubts or misunderstandings and also that the signing formalities (required
before a will can be valid) are strictly observed. For these reasons we strongly
urge that a solicitor be retained.
What
will be the cost
Normally
between $50 - $100.
What
details will my solicitor need to make a will for me?
-
Your
name, address, occupation and date of birth
-
The
names, addresses and occupation of any family and friends that you wish
to include in your will.
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The
name of any charities that you wish to benefit.
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The
name, address and occupation of any guardian for your children that you
wish to appoint.
-
A list
of your major assets and liabilities, including whether or not any assets
are jointly owned with another person.
-
Any
directions for your funeral that you would like to include.
-
You
should also have an idea of how you want your property distributed. For
example you could leave it all to your husband or wife, but if they die
before you, to your children in equal shares
Please
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