Making a will is not difficult, but the reason why you would want to make a will can make it look so. But if you wish that once you leave this world, your estate and money reach your family and dear ones as per your desires and take care of them, then preparing one can be a great idea. Here are a few things that would come in handy when you finally decide to get one ready.
Get in touch with a Will and estate lawyer
Approaching an expert legal advisory agency, such as Strategic Law Townsville, which specializes in this field, is the first step towards achieving your goal. They can tell you whether it meets all the legal requirements or not and if your wishes are incorporated.
Nowadays, a few online portals have come up to make this task simple. But the challenge is you would not understand if your Will includes all the crucial details in it. Getting guidance on how to divide your assets will also not be possible. That means it will likely have many risks.
Bring necessary documents
The Australian state laws may vary from place to place. To ensure everything is in alignment with the rules, you will have to fulfill specific requirements including:
- You have to prove that you are more than 18 years of age to be able to make the Will and you should be aware of the thing you are doing.
- Will has to be written. It can be printed, typed, or handwritten.
- You should sign the Will papers in front of the two witnesses, who are also more than 18 years old.
- The papers should also contain witnesses’ signatures.
Have a solid plan in place
A will should provide all the required information and communicate your wishes thoroughly. For that, you will have to take care of certain things beforehand. For example, you need to be ready with the names and details of the inheritor, the executor or trustee, etc. At the same time, you need to be clear about the allocation of the assets. How your property and belongings should be distributed needs to be mentioned.
In case of the same-sex couple, the Wills may need to incorporate guardianship clauses for kids as the rules may vary from one Australian state to another.
Choose your executor or trustee
An executor will take care of your property after you pass away. So select a trustworthy and responsible person. The person should be willing to perform this role. It is advisable that the executor should be younger than you so that the matter of your estate gets solved before anything happens to him or her. In some cases, people select a public trustee for this work when required.
Keep your Will updated
You can change your Will from time-to-time as and when required if there has been a sudden death of one of the inheritors or an event of marriage or divorce. In this context, it is critical to note that you should protect your signed document in a safe place to avoid any risks.
Are you going to make a ‘Will’ now? Don’t worry; professional legal advisors can help you with this.