This is a great question that should be answered by everyone. The answer is a bit of a paradox. Anyone of legal age (18) who is above ground and taking oxygen should have a legal will. In fact, the correct answer raises another question.
Who needs a legal will in Australia? The correct answer is: everyone.
Understood that nobody enjoys contemplating death. Exercising your right to create a legal will in Australia is not about dying. It is about living. Your legal will insures that in the unlikely event you die prematurely, your assets will be accounted for precisely in the manner you would like. The reason a legal will is about living is that when the legally binding document is properly recorded it sets in motion a plan to distribute your holdings to any person, place or thing you so desire.
That distribution can include your immediate family, your not-so-immediate family, a favorite charity or organisaton or a special friend with whom you may not be officially bonded, like a fiancée or unborn child, who may have no legal rights without your will.
Who needs a legal will In Australia? Everybody.
Even if you presently have no assets, you might be surprised how a will can come into play. In a worst-case scenario, you are young, totally filled with life and struck fatally by a vehicle. What will happen to the insurance proceeds? Suppose on the very next day, your lottery ticket cashes? Will you trust the judicial system to distribute those assets as you would want?
Good luck! Wishful thinking, my friend. And, without a will, our judicial system will not only administer the estate assets but it will take its own share of the pie.
Who needs a legal will in Australia? You do. And, you need it today.
A valid will is created using three important steps.
- Create the will in writing.
- The testator (you) signs the document and authorises the distribution plan to your specific and designated beneficiaries.
- Have two witnesses who are not beneficiaries or married to a beneficiary of your estate and who are over the age of 18, attest the will in writing.
- Record the document.
- Go about living life to the fullest
- Review your will and make necessary changes at any time your living and relationship changes develop.
Simple isn’t it? If everyone in Australia followed this formula, our judicial system would rise up and thank us. Certain regions have guidelines that may slightly vary the filing process.
However, the really good news is that creating and filing a legal will has become so simple, so standardised that online processors can offer easy-to-read, easy-to-understand forms to assist in the recording of your legal will. The testator can complete the form in minutes and receive assistance from these very providers.
Who needs a legal will in Australia? Everybody.
Have it your way for the rest of your life. Create and manage an online legal will today and get on with living. After all, that’s what legal wills are all about.