Question: Why is having a Will Important?
A Will is a legal document prepared by you, and preferably drawn by a solicitor, setting out the manner in which you would like your Estate distributed following your passing. In the absence of a Will difficulties can arise as to the distribution of the estate particularly where there are competing interests of potential beneficiaries.
There are a number of considerations which must be complied with in order for a Will to be valid one of which includes ensuring that the maker of the Will, the Testator or Testatrix, has legal capacity to do so.
The appointment of an Executor or Executrix will be required in the preparing of your Will. This is a person who will stand in your place and is responsible for administering the Estate so as to ensure that the assets are distributed in accordance with the terms of your Will.
In the event that a person passes with no valid Will then the laws of intestacy will apply. This means that the assets of the Estate of the deceased may be distributed in a way that you would otherwise not have wanted.
For example if a deceased person does not leave a Will but is survived by two spouses (for example, a legal spouse and a de facto spouse) then those spouses will divide the Estate equally as between them. This may not have been what the deceased wanted.
In order to ensure that your Estate is distributed in the manner that you would like, it is imperative that there be a valid Will in place. Brydens Lawyers are the experts and with our Wills and Estate Division we are able to provide specialised legal advice and representation in the preparation of your Will and the administration of your Estate.
No Will can be immune from a challenge. However, with expert legal advice and representation we can ensure that your Will sets out in detail what you want to occur so far as your assets are concerned.
Contact Brydens Lawyers today for assistance and advice in the preparation of your Will.