Last Will & Testament

A Last Will & Testament is your legal document that indicates who you intend should benefit from your assets after your death. Making a Will is the only way you can ensure your assets will be distributed according to your wishes when you die. It is estimated that almost half of all Australians do not leave a valid Will when they die.

If you die without a Will your estate will be distributed according to a standard formula. Even if you are happy for your estate to be distributed in accordance with the standard formula it creates additional work and stress for your family or loved ones if you have not expressed these wishes in your own legally valid document.

Preparing your own Will is not advisable. To be legally valid a Will must conform to strict legal requirements.  Otherwise there is a risk that the Court may decide your Will is not valid and the result may be that your assets are not distributed in accordance with your wishes. 

The precise wording of your Will is a specialised legal task. The ordinary meaning of words is not necessarily the same as their legal meaning. Ambiguous or misleading wording is extremely common in home-made Wills and may result in substantial costs and delays that can easily be avoided.

Your Will is an important legal document. It is therefore advisable to have your Will professionally drafted to ensure your wishes are properly recorded and carried out. 

If you die without a Will it is termed that you died intestate. Dying intestate can result in your surviving spouse, family and friends suffering unnecessary financial hardship and emotional stress. If you were in a de facto relationship it might be necessary to supply sworn evidence that the relationship actually existed. The necessity of proving the relationship can result in additional expense and distress at a time when your loved ones are grieving. It is much easier to plan ahead and draft a legally valid Will that names your loved ones as beneficiaries.

Your Will expresses your wishes at a particular point in time. Professional drafting allows your Will to adapt to different circumstances that may arise in the future but it is still prudent and advisable to regularly review your Will to ensure that it accurately reflects your current wishes.  We recommend that you review your Will either every 5 years or when particular times or situations arise that may affect your testamentary wishes or intentions, including;  

· Marriage, separation or divorce; 

· Starting a de facto relationship; 

· The birth of children or grandchildren; 

· Relationships or extended family connections made by your children; 

· A lack of capacity or death of your Executor;

· The death of a beneficiary or your spouse; 

· The diminishing value of legacies over time; 

· Retirement; and / or

· A significant change of assets.