A will is an important legal document which sets out your wishes about how your assets will be divided when you pass away. Wills are not just for people with lots of property, even if you don’t own a house or have a lot of money you may want to give directions about who will receive sentimental items such a jewellery, artworks or photographs. Other examples of assets include:
· Bank account/s
Making a will removes difficulties for your loved ones in deciding how to distribute your estate after you pass away.
Who can make a will?
Anyone over 18 can make a will.
How long does my will last?
Your will remains in effect until you pass away. However, if you get married, or your family circumstances change it’s a good idea to seek legal advice and make appropriate changes to your documents.
What happens if I die without a will?
Passing away without a will is called ‘dying intestate’, if this happens your estate will be distributed in accordance with the intestacy laws which vary from state to state.
The best gift you can leave your loved ones is making sure your wishes are known.
SCL are equipped to help you with all your estate planning needs. For Wills and Estate Planning assistance, book online or contact our office today.