Why should you have a will?
Quite simply, a Will is the only way to ensure that your wishes are carried out. Having a Will ensures that your family does not suffer any unnecessary delay or expense in settling your affairs after your death. It is particularly important to make a Will when you marry, acquire a valuable possession, buy a home or take out a life insurance policy. Even if you have only a few possessions, you should have a Will.
When should you make a will?
You should make a Will now!
Who can make a will?
If you are over the age of 18, or are or have been married, you can make a Will. With the approval of a District Court Judge you can make a Will if you are between the ages of 16 and 18.
Review your will regularly. Your Will should be reviewed regularly so that any necessary alterations can be made if your personal circumstances change, for example:
- marriage or entry into a de facto relationship
- dissolution of marriage
- having children or grandchildren
- the death of your partner or changes in your financial circumstances or of your
- spouse/partner, such as:
- possible eligibility for Government subsidy, e.g. residential care subsidy
- receiving an inheritance
- acquiring valuable possessions
- receiving lump sum superannuation
- or even winning a lottery
What you must do
- Make a list of your main possessions, including your home, motor vehicle, life insurance, superannuation and any investments.
- Make a list of all your financial commitments.
Tell us about your full personal details and the circumstances of your family or those you care about.
What we will do
- Help plan your Will in the strictest confidence.
- Advise you how you can best achieve your wishes by identifying and discussing with you the various options and their effects.
- Tell you about the legal, financial and tax implications of the various options open to you.
- Discuss the appointment of executors and trustees who will carry out the directions contained in your Will.
- If you have children, advise you on the appointment of guardians.
- Draw up your Will and any other documents which may be necessary.
- Make sure that your Will is written in plain English so that you can easily understand it.
- Keep your will in a safe place.
We cannot over-emphasise the importance of having an up-to-date Will. Your Timpany Walton solicitor will:
- Attend to your affairs promptly
- Treat your affairs as completely confidential
- Give you independent advice
- Use skill, experience and knowledge in making sure that your Will clearly and accurately sets out your wishes.