It is a little known fact that most Australian home owners do not possess a will.
Apparently there's a whopping 36 per cent of first home-owners who are walking around without a will. Yikes!
Considering our homes are one of our biggest assets, it seems reckless not to leave clear instructions for what to do with our estates after we're gone.
Who wants to rely on intestacy rules if your dodgy cousin Barry could possibly inherit the lot? It just seems like you would be leaving a lot of extra confusion and administration for your loved ones if you don't have a legally prepared will.
And scrawling a note on the back of a napkin as your will is just not going to cut it in a law court, so I've been told...
Jason and I had our wills drawn up when we bought our first home together and have updated it after each child was born to make sure that our children are provided for... if the worse should ever happen to us.
Preparing a will is something that is really easy to procrastinate about, but it's a good feeling when important things like that are organised.
It is a relatively simple process to get a will. You can either use your family solicitor, if you have one, or contact your relevant state or public trustee who can advise your best course of action.
Have you got a will? Did you cut anyone out? And what did you leave me? Ha!
p.s This week marks I Will Week in Victoria with State Trustees encouraging Victorians to prepare their wills. If you live in Victoria, you can find out more information here.
Apparently there's a whopping 36 per cent of first home-owners who are walking around without a will. Yikes!
Considering our homes are one of our biggest assets, it seems reckless not to leave clear instructions for what to do with our estates after we're gone.
Who wants to rely on intestacy rules if your dodgy cousin Barry could possibly inherit the lot? It just seems like you would be leaving a lot of extra confusion and administration for your loved ones if you don't have a legally prepared will.
And scrawling a note on the back of a napkin as your will is just not going to cut it in a law court, so I've been told...
Jason and I had our wills drawn up when we bought our first home together and have updated it after each child was born to make sure that our children are provided for... if the worse should ever happen to us.
Preparing a will is something that is really easy to procrastinate about, but it's a good feeling when important things like that are organised.
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| Still haven't decided which one of the boys will get the mid-century furniture... |
It is a relatively simple process to get a will. You can either use your family solicitor, if you have one, or contact your relevant state or public trustee who can advise your best course of action.
Have you got a will? Did you cut anyone out? And what did you leave me? Ha!
p.s This week marks I Will Week in Victoria with State Trustees encouraging Victorians to prepare their wills. If you live in Victoria, you can find out more information here.
That's really good advice. It surprises me too that so many people think they have forever to make sure that their wishes will be carried out.
ReplyDeleteMe too and it is the main reason I wrote about it. And it is quite simple and inexpensive to get a will done these days too. xx
DeleteI'm currently studying a subject on wills, succession and estate planning. I couldn't agree more on the importance of having a valid will and/or an estate plan, not forgetting binding nominations for superannuation funds. I have seen first hand the impact on a blended family where a will was out of date, and the results are not pleasant, the ramifications can last years... My only suggestion is don't use a will kit you pick up from a newsagents - do the righty and see a solicitor. Thanks for flagging a pretty important issue for readers :o)
ReplyDeleteYes, superannuation funds that people always forget about! And isn't it terrible when disputes arise over an estate...especially when it could've been avoided. xx
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