Every adult should have one!
It should be updated when your circumstances change, eg, marriage, divorce and children.
It is so important not to put it in the “too hard basket” or think you can leave it until later…it just won’t get done!!
Here are some reasons why you should make a Will:
You don’t want the state to decide who gets your property
Without a Will, the laws of intestacy determine who gets your assets. Clear instructions in a Will can go far to ensuring that those you want to benefit, inherit. Without a Will there just might be someone out there that you did not intend to benefit, that gets a piece of the pie!
Who looks after the kids
Legally appoint a guardian of your kids in your Will. Otherwise, a court may decide who looks after them and it may not be someone that you want for the job.
It helps avoid family conflict
New laws in Victoria limit who can contest a will. So make it clear in your Will who is to benefit for the avoidance of doubt. For extra good measure, make clear notes as to why you have made such decisions and these notes can be read together with your Will.
Make sure you also update your will if your family circumstances change. For example, you get divorced.
It ‘s not that costly
Get it drafted by a lawyer, it’s can be one of the more least costly forms of legal advice. It is very important that the Will complies with the law in every respect to be valid.
Your Will indicates your intentions and provides certainty for those you leave behind.
For information on Wills in Victoria, Australia, contact Sera Porto-Drew or Van Hang from Porto Grace & Drew (“PGD”) Lawyers on 8790 4533.