Do you have a Will?
A Will is a document which confirms your intentions of who you trust to look after your estate and details of who you wish to receive your assets and in what share.
Do you need a Will? If you own assets, everyone should seriously consider making sure they have a Will in place which takes into account your current circumstances so that your wishes are provided for as to what happens to those assets on your death.
Without a valid Will which accommodates your circumstances at the time of your death, it may be necessary for your next of kin, such as a spouse or child, to apply to the NSW Supreme Court for Letters of Administration. The person(s) who receive your estate and the share inherited will be determined by the applicable law at the time of your death, which may be against your wishes.
If you already have a Will, there are many changes in circumstances which can affect the effectiveness and validity of your Will. It is important to review your Will every 2 to 3 years to ensure your Will still properly addresses your current circumstances.
If you would like any more information please do not hesitate to contact us.
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