Many people fail to understand the importance of a properly prepared will. As your will lawyers, we know you have many questions. If you don't find the answers here, please give us a call or stop in for a visit.
The Ins and Outs of Wills
A will allows you to:
- Name someone you trust as your executor
- Distribute your assets as you see fit
- Set up trusts for your children which can be administered by the executor
- Provide for guardianship of your children
- Ensure your remains are dealt with according to your wishes
- Allow estate matters to be dealt with immediately
If you are over 18, and especially if you have minor children, you absolutely need a will and should not wait a day longer to get one drawn up. Remember that you need a will even if you and your spouse/partner jointly own all assets.
If You Don't Have a Will
Then the trouble starts! If you die without a legal will in place:
- Your estate may be administered by someone you do not trust or would not have chosen.
- Your estate will be distributed according to a government formula, not your wishes.
- A public trustee will be appointed to look after your children's legacies until they are 18.
- You will not have the opportunity to choose who becomes responsible for your children; your children may go to someone you do not want to raise them.
- Relatives who do want guardianship of your minor children will have to apply, an expensive and time-consuming process.
- Your remains may be disposed of in a way you would not want.
- Your estate cannot be administrated until the court appoints an administrator, which is time-consuming and costly.
Important: Personal Directives & Enduring Powers of Attorney
A personal directive ensures that, in the event of an injury or illness, it is clear who should act for you and carry out your wishes for medical treatments.
An enduring power of attorney ensures that, should you become mentally incompetent, your family can access your accounts and manage your affairs and finances easily and responsibly.
If you do not have a personal directive or enduring power of attorney in place and you lose mental capacity in the future, a family member or friend may apply to the court for an order of guardianship and trusteeship. This is a costly and time-consuming procedure.
Why Prepare These Documents When You Write Your Will?
- The cost to prepare these documents is minor compared to the costs and emotional stress if you don't have them.
- It saves you from making another trip to your lawyer at a later date.
- Once they're done, you don't have to worry about doing them later.
We Make It Easy
Our online questionnaire includes sections for preparing your personal directive and enduring power of attorney so you can do everything at once and rest easy.
More Information About Wills
- Ask an experienced wills lawyer to draw up your will, even if your estate is relatively simple to manage, to avoid any issues upon your death and ensure the will is valid.
- You can change your will any time as long as you are competent.
- Review your will with your will lawyers every five years or so and whenever something in your family situation changes or your assets change.
Have More Questions?
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