What is a Will?
A Will is a document which does two main things. First, the document contains an appointment of an “Executor”, (also called a “Trustee”). It is the job of the Executor to see to it that your wishes are carried out as to distribution of your Estate when you die.
Second, a Will sets out the deceased person’s wishes as to how he or she wants the “Estate” (or Assets) to be divided after death.
Who should make a Will?
Basically, everyone should make a Will. This is especially the case if you have assets in your sole name of any significance.
Whether you are single, married, in a de facto relationship or same sex relationship, you should seek advice about making a Will, including who is the “Executor”, special bequests and who to leave your Estate to. You should also discuss with one of our Adelaide Lawyers or Modbury Lawyers whether superannuation can be dealt with in your Will.
Can I use a do-it-yourself Will kit?
The short answer is, “yes, you can”.
The longer answer is that it usually creates problems where they are incorrectly made, wrongly signed, mistakes made as to gifts and intentions unclearly stated to name a few.
You may have particular wishes as to the distribution of your assets upon death which is not covered by the wording of a Will-kit which would cause drafting difficulties and may even lead to ambiguities in the Will or to questions about the exact meaning of the Testator’s intentions.
There may also be issues regarding the correct signing of the Will.
Whilst a Will-kit may be a very cheap way of making a Will, and whilst it might be “OK” when you die, we recommend having a Will drawn up properly and professionally so as to exclude any question about the validity of a Will and as to the Testator’s wishes.
See one of our Adelaide Lawyers or Modbury Lawyers for advice regarding all matters relating to Wills, Inheritance Claims, Will Validity, Powers of Attorney and Estate advice. Contact us now to make a no obligation appointment.