WILLs

Protect Your Loved Ones By Having a WILL

 
A will tells everyone what should happen to your estate after you die. If you don’t leave a will, the law decides how your estate is passed on. 
You can also use your will to tell people about any other wishes you have, like instructions for your burial or cremation.
 
Why do I need a will ?
 
A will makes it much easier for your family or friends to sort everything out when you die - without a will the process can be more time consuming and stressful.

- If you don’t write a will, everything you own will be shared out in a standard way defined by the law - which isn’t always the way you might want.

A will can help reduce the amount of Inheritance Tax that might be payable on the value of the property and money you leave behind. 
- Writing a will is especially important if you have children or other family who depend on you financially, or if you want to leave something to people outside your immediate family.
 

 

 
 
Updating your will
 
If you’ve previously made a will, a major lifestyle or relationship change such as marriage or divorce could affect how your estate would be managed and settled. For example, a recent marriage will affect any previous wills made.

Welcoming a child into your family should also prompt you to write or update your will. You can nominate a guardian for your minor children in case you die unexpectedly. 

Make sure you update your will after the birth of a new child. Interestingly, Heath Ledger did not update his will after the birth of his daughter Matilda, which meant that she was not a named beneficiary in his will. 

Despite this, Matilda was lucky in that the named beneficiaries to her father’s will (her grandparents and aunties) were willing to give up their entitlements to Heath’s estate to Matilda. 

If this were not the case, Matilda’s mother (or her legal guardian) would have had to lodge a claim on the estate on behalf of Matilda, in order for her to obtain an entitlement in her father’s estate.
 

 

 

Don’t wait…. Do it now….  Make it a priority to protect your loved ones this year!