Imagine that all your possessions werent distributed correctly, once you die. Considering the number of years of hard work that its taken for you to build up your estate, it is not a wise choice to die without writing a Will.
Having a Will ensures your assets are distributed to your beneficiaries in line with your wishes.
It also allows you to:
Appoint an Executor of your choice
Appoint a guardian for any minor children
Make specific gifts to charities
If you don't have a Last Will and Testament, your estate is managed by a person called an administrator. The administrator may be a family member but quite often a Government Trustee will be appointed to administer your estate. Then the Government legislation will determine how your assets will be distributed and even who will look after your children if they are still minors!
Preparing a Will gives you the opportunity to nominate the person to take care of your affairs after your death. This person is called an executor.
Also, in the case that you already have a will keep in mind that you may have to revise your current will in the case of;
separation
Divorce - Divorce does not automatically revoke an existing Will
if you are in a defacto relationship
if a person named in your Will dies or becomes incapacitated
purchase of a significant asset (such as a house)
if you get involved in a new business
if you change your mind about one of the beneficiaries
Dying without a Will can be costly and stressful at what is an already difficult time for your family and friends. Provide a future for your loved ones by creating your Will online and you can cross it off your to do list.
