A Will is a legal document that allows you to set out how your assets are distributed following your death.
The role of your Executor(s)
Your Will allows you to nominate who you would like to look after your estate after you pass away to make the important decisions about the distribution of your estate. This person also organises your funeral. This person is known as your executor.
The person (or persons) you appoint as your executor should be someone you can trust. If you choose someone that is older than you, you should also appoint another person to act in their place in case they pass prior to you or if they are not able to be your executor.
Care of your children
If you have children under the age of 18 years of age. Your Will allows you to nominate who you want to care for your children upon your passing. This person is known as your testamentary guardian.
If you do not have a Will
If you do not have a Will, you may leave your loved ones in a position of uncertainty after your death.
If you die without a Will, you are seemed to have died intestate. Dying intestate may create family disputes and disagreements.
In the Administration and Probate Act (1958), an Act of Parliament in Victoria sets out a formula known as the ‘Intestacy Rules’. These Rules determine how and to whom your estate is to be distributed.
Your will is one of the most important things you can do for your loved ones as it is often your last message you have left for them. No matter how straightforward your situation is, having a Will makes sure everyone understands what you would like to happen with your estate after your passing.
Do not put it off any longer – while it may be something you do not want to think about, preparing your Will can take a lot of stress off your family members and create certainty at a difficult time.
Need help to draft your Will?
At N & C Legal Group we provide experienced and professional advice to assist you in drafting your Will to ensure your documents are legally sound.
We will arrange to meet with you to take your instructions and to talk you through your options. We will then prepare your Will and meet you in one of our offices to sign it.
Once you have signed your Will we can securely store your Will for no additional charge, giving you peace of mind that your Will is safe and that your loved ones can easily and securely get a hold of it when the time comes that they need to.