10 Reasons Why You Need a Will

Aug 4, 2023 | Publication

There are many good reasons why it is important to have a Will.  Here are 10 of them.

  1. By having a Will you can control who is to be your executor. Your executor is the person who controls your affairs when you die. If you do not have a Will, your executor may be someone who you did not intend.
  2. If you have children under 18 years, you can appoint a guardian.
  3. You can state in your Will how you wish your estate to be distributed. If you do not have a Will, your estate may be distributed in a way that you did not intend.
  4. You can appoint a back-up executor. If you do not have a Will, no back-up will be in place.
  5. In a Will you can leave particular items to particular people.
  6. You can minimise the risk of a claim against your estate by having a well prepared Will.
  7. You can minimise tax for your beneficiaries. Depending upon your circumstances a well prepared Will can minimise tax for your beneficiaries.
  8. You can say whether you wish to be buried or cremated. You can also say things like whether you wish to have a funeral.
  9. By having a Will, your estate will not have to incur the time and expense of making a more complicated application to the Court where someone does not leave a Will.
  10. You can set up a testamentary trust within the Will.

To discuss with a solicitor the preparation of your Will, please contact us on (02) 9633 1826 or email reception@mcauleylawyers.com.au.

The information in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, we do not guarantee that the information in this publication is accurate at the date it is received or that it will continue to be accurate in the future. We are not responsible for the information of any source to which a link is provided or reference is made and exclude all liability in connection with use of these sources. If you do not wish to receive newsletters from us, please let us know.

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