Your Will is a legal document with instructions for who you want to inherit your estate, care for your children or pets, and be the executor of your Estate. Positive Living & Ageing Well put some important legal questions to local lawyer, Simon Burke, about the importance of communicating your wishes at the end of your life.
Q. Do I need a Will?
A. The simple answer – Yes! A Will is a legal document that ensures your Estate will be distributed in accordance with your wishes, once you pass away. It allows for wishes regarding guardianship of your children under the age of 18 years and can include specific gifts of items or monetary gifts.
Q. What happens if I don’t have a Will?
A. A common misconception is that if you die without a Will, the government will take all of your Estate. This is a myth. If you die without a Will, you die “Intestate”. This means that your Estate will be distributed to certain next of kin, rather than in accordance with your wishes. This may be unfair on your family or friends, who have no right to challenge the intestacy distributions.
Q. I have a Will but there have since been name and address changes for people mentioned in my Will… Do I need a new Will?
A. Rest assured that a change in address or change in an Executor’s or Beneficiary’s surname do not always require you to prepare a new Will. Details such as addresses and surnames primarily assist with identification of either the Willmaker, the Executor or Beneficiary but they do not affect the validity of the Will (unless it is the Willmaker’s name who has changed as a result of marriage or divorce). Whilst these changes don’t always warrant the making of a new Will, we always suggest that you schedule time to review your Will approximately every 5 years to ensure it is up to date and consistent with any changes to the law.
*Mention this article when booking your Estate planning appointment at Camerons Lawyers for a $100.00 discount. *New appointments only. Valid til 30 June 2024.
To book an appointment, please phone Camerons Lawyers on 5832 1000 or call into 128 Maude St, Shepparton.
