Why do you need a Will / Last Will
Life is full of unexpected twists and turns, so being prepared is essential. Drawing up a Will may seem like a somber task, but it’s a responsible and loving gesture toward your family and friends.
Here are some reasons why you need a Will:
- Ensures your wishes are respected: A Will allows you to specify how you want your assets, property, and belongings to be distributed after your passing.
- Avoids intestacy laws: In the absence of a Will, your estate will be subject to intestacy laws, which may not align with your wishes.
- Protects your loved ones: A Will ensures that your dependents, such as children or pets, are cared for according to your wishes.
- Minimizes disputes: A clear and valid Will can reduce the likelihood of conflicts, among family members and beneficiaries.
- Saves taxes: A well-planned Will can help minimize tax liabilities and ensure that your beneficiaries receive the maximum benefit.
- Appoint an executor: A Will allows you to choose a trusted person to manage your estate and carry out your wishes.
- Supports charitable giving: A Will allows you to leave a lasting legacy by donating to your favorite charities.
- Ensures business continuity: If you own a business, a Will can help ensure its continuation and protect your partners, employees, and customers.
- Provides peace of mind: Knowing that your affairs are in order can give you and your loved one’s peace of mind.
- It’s a responsible act: Drawing a Will is a responsible and vital step in planning for the future.
Further, Your Will must be drafted and executed following Australian laws and regulations to become a legally binding and enforceable Will. Therefore, we highly recommend that you seek proper guidance and assistance from a qualified legal professional.
