It’s time to make that Will
Now is the time to make your Will. Every adult should have a Will. Having worked hard to accumulate your assets, you owe it to yourself to take the time to ensure that after your death your hard earned assets go where you intend, in the smoothest and most tax effective way possible.
Why have a Will?
A Will is a legal document which sets out how your assets are to be distributed upon your death. It is the only way for you to have a say in that process. If you don’t have a Will, your assets will be distributed under a pre-determined legal formula which does not have regard to your individual circumstances or those of your intended beneficiaries.
Dying without a Will (known as dying intestate) can be a very stressful and costly process for your family and estate. For example, if you have a spouse and children and die without a Will, not all of your assets automatically pass to your spouse. They are shared between your spouse and children. If your estate includes your home, then a legal guardian might need to be appointed for the children and your spouse may have to sue your estate.
Can I do it myself?
Life is more complicated these days. Do you know enough about the law relating to Wills, probate, superannuation, trusts, tax, business, property, divorce and separation to get it right?
Have you considered:
- Is my Will valid?
- Who can challenge it?
- What assets are covered by my Will?
- What happens to joint assets, superannuation, family trusts, businesses?
- What is the most tax effective way to leave my estate?
We can help
The MST Wills and Estates Team can assist you in preparing a Will to suit your individual circumstances. You may also consider making a Power of Attorney to appoint someone to make financial, legal, medical and lifestyle decisions on your behalf if you are incapable of making those decisions yourself.
Wills and Estates Services
- Wills and Powers of Attorney
- Estate Planning and Testamentary Trusts
- Probate/Administration of deceased estates
- Challenge to Wills/Inheritance Disputes
If you require any assistance in relation to the above or any other matter you should seek advice from one of our Wills & Estates Lawyers