Why do you need a Will?

Why do you need a Will? Is a question we often hear. Without a Will your loved ones won’t know where you want your money and assets to go if something happens to you. 

52% of Australian’s don’t have a Will.  When you don’t have a Will, not only do your loved ones have the incredibly sad task of a burial, added to that they’ll have the very stressful job of having to sort out your legal matters when there’s no Will. 

If you die without a Will you die ‘intestate’ and your next of kin has to apply for Letters of Administration. That means the Court will be asked to grant your next of kin, your ‘administrator’, the formal authority to make decisions about your estate.  Not only that, they’ll have to follow the strict laws of the Court about distributing your assets.  Imagine if your assets end up in the hands of people you would never want to have them.

Having a Will saves your family and friends the added stress of dealing with Courts and conflicts among family and friends over the distribution of your estate at a time when they’re most likely already emotionally drained.

5 Reasons why you may think you don’t need a Will

1. I’m young and healthy
2. Everything will automatically go to my partner
3. I’ve got nothing of value to leave
4. I don’t want any of them to get anything of mine
5. It’s too hard to decide who gets what

You might think that you don’t need a Will for any or all of the above reasons but the reality is every person over the age of 18 needs a Will.

Have a Will saves your family and friends from the added stress of dealing with Courts and lessens the amount of potential conflict among family and friends over the estate distribution. That’s especially important when loved ones are dealing with a stressful and emotional time.

5 Reasons why a Will is Essential

1. Lists who’s managing the distribution of your assets when you’re gone
2. Announces who gets what from your estate
3. Appoints guardians for any children under 18
4. Avoids the division of your estate being directed by government rules
5. Helps to reduce conflict and stress amongst family and friends left behind

Think about discussing what’s in your Will with the benefactors and of course the Executors to be aware of their role in your estate.

Death is a very stressful time. If you leave a Will behind, it’s one less thing your friends and family need to worry about during what is often an emotional time. It also gives you peace of mind that the gifts you leave will go to those you love most, the people you have chosen.

You can find out more about writing a Will here in our previous update How do you write a Will?

Yeppoon Lawyers charge $220 for Wills which includes free storage in safe custody.

For an appointment with Leonie Davey to make your Will, contact us on 07 4925 0229.