The Importance of Writing Your Will

We have all seen the unhappy results of seemingly harmonious families dealing with the death of a loved one and the subsequent chaos over the unstated distribution of the deceased's assets and personal possessions. The ensuing events can involve legal actions, unnecessary expenses and worse yet, irreparable rifts between family members. Some families never get past the damages caused by the deceased's failure to properly draw and execute a will.

The results are contrary to the deceased's wishes and the related legal fees and court costs greatly diminish the value of the estate. Heirs are rightfully trying to read between the lines. They do their best to determine what the deceased loved one would have wanted, but they never seem to agree.

This sad occurrence is the setting for many movies, books and stageplays, but it is painful to watch and endure. Worst of all, it is completely unnecessary.

The preparation and proper execution of a will is an opportunity to settle your estate while you are alive. This is your chance to set the record straight and avoid needless squabbles among heirs in the event an unexpected fatality occurs. The purpose of a will is to eliminate misunderstandings and assure that the precise wishes of the deceased individual are followed.

Many persons feel their estates are not significant enough to merit a will. This is definitely not the case. Regardless of the size of the estate, the probate court will administer the distribution of assets unless a will exists and a court-appointed executor will be paid by the estate, thus diminishing the estate even further.

A proper will appoints the executor, avoids court appointed costs and sets a distribution plan that complies with your wishes. As we never know the course of our lives, it is never too early to create a will, which can be amended as one's life unfolds and changes. The creation and execution of a will does not alter the way you conduct your affairs or buy, sell or distribute assets while you are alive. The will simply protects the ones you love and helps them avoid conflicts after you have died.

Today, there are cost-effective online legal will creation services, that can help you organise your thoughts about your estate and prepare and legally record your will. The process is simple, non-invasive and once recorded reaps tremendous peace of mind to you and your heirs. Wait no longer! Draw your new will today and then enjoy the life ahead.

Superstar Fatalities Highlight Need for Will

It may sound trite but the recent wave of unexpected superstar fatalities, including Michael Jackson’s untimely death, point to the need for a legal will. Regardless of age, marital status or size of the estate, drawing a will makes a lot of sense and can simplify the estate issues in the event of a surprise fatality.

The turmoil surrounding Michael Jackson’s $1 billion estate and the protracted litigation surrounding Australian rock star Michael Hutchence’s $20 million estate demonstrate the emotional stress, inflated costs and confusion that can arise from improperly filed and updated wills.

Creating and filing a will is all about stipulating your wishes clearly, concisely and in sound legal format. A proper will eliminates family squabbles, creditor complaints and assures that the wishes of the deceased party are identified. Basically, a sound will outlines a footprint for the legal system to administer in an orderly manner.

Scott Whitla, a partner with McCullough, Robertson Lawyers in Brisbane suggested that Jackson’s will, which was reportedly last visited in 2002, has created a legal nightmare. “His mother, Katherine has already challenged the will’s executors and creditors are waiting in the wings,” offers Whitla. Of course, with each legal battle the assets of the estate are further diminished and the chances of events unfolding the way Jackson has envisioned become less and less.

Unfortunately, legal confrontations over estates are not limited to superstars. Issues of inheritance, custody and administration can be resolved with a properly drawn and recorded will. Wills can be adjusted in later years so the individual can make adjustments as family situations change.

“Careful thought must be given to what you own and how you own it and your wishes and intentions must be balanced against the needs of your surviving family members,” said Whitla.

Dying without a will can raise serious issues, as family members tend to want to interpose their wishes as opposed to the legal process for estate distribution without a will. The individual drawing the will should always consider tax implications when making final decisions.

Despite legally establishing a footprint for distribution, the will is easy to amend as the need mounts. However, a person’s will should be reviewed periodically to assure accuracy.