One of the most common questions we receive from clients is, “Do I need a Will?”
We recommend that everyone over the age of 18
writes a Will. A Will records your wishes and reduces stress for your loved ones during a difficult time.
A Will is a legal document that sets out who receives your assets when you die. With a valid Will, you increase the chance that your assets go where you intend. You also reduce the risk of disputes and costly legal proceedings.
This article explains the key reasons why you need a Will and why it matters.
Assigning Your Assets
A Will lets you decide who receives your assets after your death. Your assets include property, bank accounts, cash, and shares.
You should still make a Will even if you do not own major assets like property. You can still decide who receives items such as your car, pets, superannuation, insurance payouts, or personal collections.
You can also leave assets to a charity or cause that matters to you.
Personal and Heirloom Items
Your Will also sets out who receives personal and sentimental items. This may include jewellery, war medals, or family photo albums.
Clear instructions help reduce confusion and ensure these items stay within your family or go to the people you choose.
Funeral Arrangements
You can include funeral wishes in your Will. This is especially helpful if you have cultural or religious requirements.
You can also state preferences for burial or cremation. This guidance helps reduce stress for your family during planning.
Legal Guardianship
If you have children under 18, you should nominate a legal guardian in your Will. This ensures someone you trust cares for them if you die.
Although this can feel difficult to consider, it gives you certainty that your children will be cared for by someone you choose.
Executorship
You can appoint an executor in your Will to manage your estate. The executor carries out your instructions and distributes your assets to beneficiaries.
You can choose a trusted lawyer, friend, or family member. If you do not appoint one, the court will decide who manages your estate.
In Summary
Making a Will helps you protect your assets and support the people you care about. It becomes even more important if others rely on you financially.
The earlier you prepare your Will, the more certainty you create for your future and your family.
If you or someone you know wants more information or needs advice, please contact us at
(03) 9422 5439 or email
[email protected].
Looking for legal services in your area? We have
lawyers in South Morang and
lawyers in Warrnambool ready to help you.
