Five reasons to write a Will

Those who don’t have a valid Will are overlooking a significant opportunity to plan for their family’s future. Writing a Will can help when distributing assets upon death, choosing executors, setting out funeral arrangements and even appointing guardians for infant children.

While many Australians already have a Will, a number of those have a Will that does not reflect their current circumstances.

Having a Will is not only important to those who are wealthy or old; a Will is an important document for individuals to have at every stage of life. Here are five reasons why:

  • Beneficiaries
    You must have a Will to legally choose who will benefit from or inherit your estate upon your death. When you die without a Will, legislation in the relevant state or territory will determine who benefits from your estate.
  • Care of infant children
    To legally appoint guardians for minor children you must have a Will.
  • Challenges
    You can avoid many unnecessary legal claims against your estate if you have an appropriately drafted and valid Will.
  • Costs
    The administration of your estate can be time-consuming and costly, so having an appropriately drafted and valid Will can make this process more efficient, saving time and money.
  • Family business
    Having a Will ensures that the right people are in the right positions to continue the business during the administration of your estate.

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