40% of us don't have one - Are you one of them?
We all know that a Will is one of the most important documents we’ll ever need so why is it that only 59% of us have one? And if you do have one, why do a number of people acknowledge that it hasn’t been updated in many years and doesn’t really reflect their current situation?
So while we may think about [material things] family and thanksgiving at Christmas, it’s also a good time to think about your Will as no one thinks its going to happen to them (and we trust it won’t!) but the unthinkable sometimes happens when we least expect it!
If that’s not enough to get your attention here are some reasons you should have a will....
1. Your children – to appoint guardians for your children under 18 you must have a Will and to set conditions on when your children can take the benefit from your estate, especially if you wish them to be older than 18.
2. You get to choose who gets what– if you die without a will, the people you want to inherit may not and a “one size fits all” bit of legislation will apply (which doesn’t suit anyone that well).
3. Reduce costs – with a valid Will the administration of your state should be more straightforward and efficient
4. Your Funeral – you are able to appoint a person who can follow your instructions regarding whether you would like to be buried or cremated as well as other details regarding your funeral. This will help your loved ones make decisions for you at a very difficult time.
5. Structures - to leave control of your structures (especially trusts) to a person you trust and/or create structures which may be of significant advantage to your beneficiaries.
6. Protect your family’s future and give yourself and your loved one’s peace of mind by organising your Will today.
Call our office today to speak with one of our experienced estate lawyers.
Changes to QLD Guardianship laws are now in place
From 30 November 2020, the Enduring Power of Attorney (EPA) and Advance Health Directive (AHD) forms that have been used for nearly 20 years in Queensland have been updated and amended and now must be used. If you have an EPA or AHD that was completed before 30 November it will still be valid.View All News