There are many good reasons why it is important to have a Will. Here are 10 of them.
- 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.
- If you have children under 18 years, you can appoint a guardian.
- 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.
- You can appoint a back-up executor. If you do not have a Will, no back-up will be in place.
- In a Will you can leave particular items to particular people.
- You can minimise the risk of a claim against your estate by having a well prepared Will.
- You can minimise tax for your beneficiaries. Depending upon your circumstances a well prepared Will can minimise tax for your beneficiaries.
- You can say whether you wish to be buried or cremated. You can also say things like whether you wish to have a funeral.
- 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.
- 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 email@example.com.
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