Making A Will: It’s Easier Than You Think.

Earlier this year, I presented a webinar to the St Vincent's Foundation titled “Making a Will: it’s easier than you think”.

In my presentation, I touched on the problems your loved ones may face if you die without making a Will.

If something was to suddenly happen to you and you were to unexpectedly pass without a Will, you may want to consider the following questions:

• If you have children under the age of eighteen, who would take care of them?
• Who would receive your assets such as your home or money in your bank account?
• Who would take care of your pets?
• Who would finalise your affairs and distribute your assets according to your wishes?

If you are to die without a Will, known as dying intestate, these questions will not be answered by you.

These questions will be answered by the legislation in your state. This legislation will decide who will administer your Estate and who will receive your assets based on a formula dependent on if you have a spouse, and/or who is your nearest next of kin.

If you die without a Will, your Estate may be in the unfortunate position of people administering and benefiting from your Estate who you may not want to do so.

For example, if you have been separated, however, not divorced from your spouse, your estranged spouse will be ‘first in line’ to administer your Estate and may receive your entire Estate.

Furthermore, the only way you can leave a gift to a charity after you pass is through a Will. If you die without a Will, and you wanted to leave a gift to a charity, unfortunately, the charity will miss out. There is no provision in the legislation for a charity to receive anything from an intestate Estate.

With a properly drafted Will you can answer the aforementioned questions. You can nominate someone to be a guardian of your minor children, you can gift your possessions to your chosen loved ones or a charity, you can leave your pets to someone you trust and you can appoint an Executor of your choosing to administer your Estate.

As a Wills and Estates Lawyer who practices solely in Estate Planning, the hardest part for many clients is ‘getting the ball rolling’ with making a Will.

To get the ball rolling, it is simply a matter of contacting a lawyer and arranging an appointment. From there, a lawyer will take care of you and guide you through the process of making a Will. 

DISCLAIMER: This article is provided for general information purposes only. It does not constitute specific legal advice or opinion. Although our aim is to provide you with as accurate information as possible, you should not act or rely upon the information in this article without seeking the advice of an experienced lawyer who specialises in the particular area of law relevant to your inquiry. Please do not to hesitate to contact Murnane Legal to make further inquiries or to make an appointment to discuss the specifics of your situation.