Why should I make a Will?
Many people do not realise that without a Will their family members are left with a heavy burden of trying to transfer property, deal with debts, and organise their loved one’s belongings.
Without a Will the Government will decide where your assets go.
If you have a Will, the Executor of the Estate can deal with these problems relatively smoothly.
Without a Will the law has set up what is called “Intestacy Rules” which means that when a person dies without a Will their property will automatically go to the following (if no-one falls in the category then the estate goes to the next category):-
- Spouse or De Facto Partner only
- Spouse or De Facto Partner and children (first $200,000.00 to Spouse or Partner then 50/50 between them and children)
- Children only if none then
- Parents if none then
- Brothers and Sisters (or their children) if none then
- Half-Brothers and Half-Sisters (or their children) if none then
- Grandparents if none then
- Whole-Blood Uncles and Aunts if none then
- Half Blood Uncles and Aunts
For example, if you die without a Will and are survived by your De Facto Partner and children to a former spouse, then your De Facto will receive the whole of your Estate (if valued at under $200,000) and your children will receive nothing.
For example, if you die without a living Spouse or Child or Parent, then your Estate will pass to your Brothers and Sisters or if they have passed away to their children.
If you have no living relatives falling into the above categories, then your Estate may pass to the Government as State Revenue and friends to whom you may have wished to make a gift, will not receive anything.
In order to properly protect your Estate as well as your family and loved ones we recommend you make an appointment today to make a new, valid Will.
Lawlers Solicitors and Conveyancers offers a fixed price for preparation of Wills.
We also offer a package deal when you instruct us to draft a Will, Power of Attorney and Enduring Guardian.
Please contact us for more information on our packages or to arrange a consultation.