It’s a niggling thought in the back of many of our minds – we should really get around to writing a Will.
In fact, studies have shown that almost half of the Australian population does not have a valid Will and, if you count yourself among that group, you’re not exactly in bad company – even Prince (or should that be the former artist formerly known as Prince?) died without bequeathing his estate worth hundreds of millions of dollars, meaning his legacy now includes a legal headache that will likely take years to sort out.
“Not me!” I hear you say – “I’ve filled out one of those DIY post office forms!” Yes, they are Valid Wills, but only if they’re completed and executed correctly, and unfortunately many that we see in our office have not been filled in correctly so are invalid either in part or wholly.
A Will is one of the most important legal documents you will ever create and it is not advisable to risk creating one without legal advice.
If you die without a valid Will then your estate will be distributed according to a pre-determined formula under the laws of ‘intestacy’, leaving your assets to specific family members or – in some cases of people without close family – to the government!
How do I ensure I have a valid Will?
There are many considerations to ensuring you have a Valid Will – here is just a few examples:
- You must usually be aged 18 or over (some exceptions apply);
- The Will must be written and witnessed in accordance with the legislation;
- You must be deemed to have had the legal and mental ability to make a Valid Will (known as ‘testamentary capacity’); and
- You must have made the Will of your own free will (not under duress, undue influence, misrepresentation or fraud).
So don’t let your little red Corvette end up in the hands of the government or that estranged relative on the other side of the world… We can do simple Wills for you at a fixed price, giving peace of mind that you have a properly prepared Will and that your Estate will be distributed according to your wishes.
We can also do more complex Wills involving structures such as testamentary trusts and life estates, these are quoted on a case by case basis.
Contact us on 9976 5222 to discuss your Will.
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This information and information published on our website and social media sites is general in nature and for information and entertainment purposes only. This information does not constitute legal advice and should not be relied upon as such. If you require legal advice which takes into account your personal circumstances, please contact us for an appointment.