Do I Need A Will?
A will, which is a legal document that is uniquely yours, gives directions so that your people, pets and things will be taken care of... long after you've finished your game. If we don’t have one, or if yours isn't valid for some reason, what we would like to happen may not happen in reality. This could put our families into legal and financial difficulties. We have seen instances where it has proven very expensive for remaining family members.
The biggest implications of no will or an out of date will are:
Under the Wills Act 2007, a valid will must be:
Generally the will-maker must be over 18 years of age (unless they've entered into a marriage or civil union or one of the other exceptions applies) and of sound mind and understanding.
Why make a will?
People mainly use wills to write down family members they want to provide for if they die, and how they want to distribute what they own. But wills also let us specify someone we would like to look after our kids, or to leave special gifts and meaningful things to people or organisations we choose. They can include special instructions for a funeral, and they typically name the person who will carry out our wishes.
Contents of a will
Although there are no prescribed contents for a will, the following points are normally included:
The will-maker will usually appoint a personal representative (executor) to carry out the terms of the will. If a person dies intestate (without a will) or hasn't appointed an executor, or if the executor is unable or unwilling to act, the court will appoint a person to act as the personal representative. (This person is referred to as the 'administrator'.)
How do you write a will?
Don't have a will yet, or need to update a previous will? This is where we can assist. The team have helped many clients prepare their new will and are ready to assist if you want a will prepared. We would also recommend at the same time you consider our Life Organiser service as a further step of looking after your family when the ref blows the final whistle.
Keeping a will
Whenever you go through a big life change like the birth of a child or separation, you should review your will. For example, if you get married or enter a civil union your will is automatically revoked unless it states otherwise or specifically says that it was made with regard to the coming union.
Other life events like the birth of children or grandchildren, or the purchase of a property, are all good reasons to check your will.
Make sure to keep a copy of the will in a safe and accessible place – and let the executor and loved ones know where it is. If your will can't be found, your last wishes can't be followed!
The biggest implications of no will or an out of date will are:
- If you die without a will, all your assets do not automatically go to your partner.
- If you die without a will, the government will use a formula to divide up your assets.
- The last will you signed – even if it’s out of date – will be the one used if you die.
Under the Wills Act 2007, a valid will must be:
- in writing
- signed by the will-maker (or a person directed by them)
- signed by at least two independent witnesses, both present when the will-maker signed.
Generally the will-maker must be over 18 years of age (unless they've entered into a marriage or civil union or one of the other exceptions applies) and of sound mind and understanding.
Why make a will?
People mainly use wills to write down family members they want to provide for if they die, and how they want to distribute what they own. But wills also let us specify someone we would like to look after our kids, or to leave special gifts and meaningful things to people or organisations we choose. They can include special instructions for a funeral, and they typically name the person who will carry out our wishes.
Contents of a will
Although there are no prescribed contents for a will, the following points are normally included:
- revocation (cancellation) of any previous wills
- appointment of executor(s) and trustee(s)
- specific gifts of personal estate (legacies or bequests)
- general gifts of personal estate and annuities
- specific gifts of real estate
- gift of the residuary (remaining) estate
- funeral arrangements.
The will-maker will usually appoint a personal representative (executor) to carry out the terms of the will. If a person dies intestate (without a will) or hasn't appointed an executor, or if the executor is unable or unwilling to act, the court will appoint a person to act as the personal representative. (This person is referred to as the 'administrator'.)
How do you write a will?
Don't have a will yet, or need to update a previous will? This is where we can assist. The team have helped many clients prepare their new will and are ready to assist if you want a will prepared. We would also recommend at the same time you consider our Life Organiser service as a further step of looking after your family when the ref blows the final whistle.
Keeping a will
Whenever you go through a big life change like the birth of a child or separation, you should review your will. For example, if you get married or enter a civil union your will is automatically revoked unless it states otherwise or specifically says that it was made with regard to the coming union.
Other life events like the birth of children or grandchildren, or the purchase of a property, are all good reasons to check your will.
Make sure to keep a copy of the will in a safe and accessible place – and let the executor and loved ones know where it is. If your will can't be found, your last wishes can't be followed!
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