If you haven’t made a will yet, don’t worry, you are not alone. Many of us put off making a will because we don’t want to face up to the fact of our own mortality and, importantly, because we imagine that making a will will be time-consuming and expensive – just think of the lawyer’s fees! The good news is, however, that it doesn’t need to be. You can make a will dividing your property and savings as you wish without having to spend half those savings getting it drawn up.
BUT DON’T I NEED A LAWYER?
There is no legal requirement that a will be written by a lawyer. A lawyer simply puts your wishes into words.
SO I CAN JUST DRAW IT UP MYSELF?
In theory, you could write your own last will and testament from scratch in the back of an exercise book. The problem is, this will likely take you a long time and, unless you have some legal knowledge in this area, there will probably be important elements that you miss out. A good compromise is a do-it-yourself will kit.
WHAT’S A DIY WILL KIT?
Photo: Grant Cochrane
A DIY will kit allows you to create your will online using a template drawn up by a lawyer. This means it’s quick and easy to use, and includes everything it should do. The kit available from www.legalwill.com.au, for examples, costs only $25 ($40 for a couple’s kit) and walks you through every step of the process from choosing your executors to detailing how you’d like your funeral. If you want, you can even leave messages for loved ones left behind. And it has practice will forms, legal will forms and executors’ memorandums, so you have everything you need to create the will yourself.
WHAT ABOUT ONLINE PRIVACY?
It’s always wise to be cautious about entering personal details online, but www.legalwill.com.au uses 128-bit encryption, and your account is password protected, meaning your details will be safe.
WHAT DO I DO AFTER I’VE FILLED IN THE FORMS?
Once you’ve filled in the forms online simply print your will off and get it signed and witnessed. Then you need to put it somewhere safe. Choose somewhere where it won’t be lost or stolen, and where it will be protected from any natural disasters like flooding, fire and earthquakes. And make sure you tell your executors where you’ve stashed it – if your loved ones search your house from top to bottom but can’t find a will you might as well not have bothered making it! If you don’t have anywhere suitable in your own home, consider using a company that specialises in the storage of last wills and testaments. www.legalwill.com.au works with Will Store Pty Ltd.
WHAT IF I WANT TO CHANGE MY WILL?
Normally if you want to change your will and you’ve had it drawn up by a lawyer you will have to fork out again in legal fees to get it updated. If you’ve created it online with www.legalwill.com.au, however, you can easily modify it yourself if your circumstances change, with no additional charges.
SOUNDS GREAT. WHERE DO I GET STARTED?
It couldn’t be easier. Just head over to www.legalwill.com.au, create an account and you’re away. It’s not worth risking your legacy – now that creating a will is so simple and affordable, no one has an excuse not to make one today!
