Why Every Adult Needs a Will (and What Happens Without One)
Making a will is one of those tasks that’s easy to put off. It can feel uncomfortable, or like something to deal with later in life. But a will is one of the most important documents you can have, and not having one can leave a great deal of stress and uncertainty for the people you care about most.
This article offers a general overview of why a will matters, what happens if you don’t have one, and what a will typically covers. It’s general information only and not legal advice, but it may help you understand why getting your affairs in order is worth doing sooner rather than later.
What a will actually does
A will is a legal document that sets out how you want your assets distributed after you pass away. It lets you decide who receives what, appoint an executor to carry out your wishes, and, importantly, name guardians for any children under 18.
In short, a will puts you in control. It’s your opportunity to make your intentions clear and to make things as straightforward as possible for your loved ones during what will already be a difficult time.
What happens if you don’t have one
If you pass away without a valid will, you’re said to have died intestate. In that situation, the law decides how your estate is divided according to a set formula, which may not reflect what you would have wanted at all.
This can create delays, additional costs and stress for your family, and can lead to outcomes that surprise everyone, such as assets being distributed in ways you never intended. A will helps avoid all of this uncertainty.
Key things a will can cover
Beyond simply naming who inherits your assets, a well-prepared will can address a range of important matters. These include appointing a trusted executor, providing for children and dependants, making specific gifts, and setting out your wishes clearly to reduce the chance of disputes.
Thinking these things through carefully, ideally with professional guidance, helps ensure your will genuinely reflects your wishes and stands up when it’s needed.
Wills are part of a bigger picture
A will is a crucial document, but it’s often part of a broader approach to planning ahead. Many people also consider arrangements such as powers of attorney and other estate planning measures that deal with decisions during your lifetime, not only after it.
Looking at the full picture helps make sure you and your family are properly protected across a range of circumstances, not just one.
Keep your will up to date
Making a will isn’t necessarily a one-time task. Major life changes, such as marriage, separation, the birth of children, or buying property, can all affect your wishes and the validity of your existing will.
It’s wise to review your will periodically and after any significant change in your circumstances, so it continues to reflect what you want.
Getting professional advice
While it can be tempting to use a generic template, a will that isn’t prepared properly can be challenged or fail to do what you intended. Getting advice from an experienced solicitor helps ensure your will is valid, clear and tailored to your situation.
Taking this step gives you peace of mind that your affairs are in order and your loved ones are looked after.
Common myths that hold people back
A few common myths stop people from making a will. Some assume their estate is too small to bother with, but a will is about far more than money, including who cares for your children and who manages your affairs. Others believe everything automatically goes to their spouse, which isn’t always how the law works.
Perhaps the most common myth of all is that there’s plenty of time to sort it out later. The reality is that the best time to put a valid will in place is now, while you can make your wishes clear.
Get in touch
If you’d like to put a valid, properly prepared will in place, the experienced team at Benjamin and Robinson Solicitors can help. Get in touch to discuss your wills and estates needs and protect the people who matter most.
Visit: https://www.brlaw.com.au/