Preparing a Will

Key Points

  • Having a Will makes it easier for the family members left behind, to ensure they can follow the deceased’s wishes.
  • If there isn’t a Will, then the law (within each State or Territory) will decide where your assets will go after your death.
  • Be clear about what are considered to be ‘estate’ assets, as apart from ‘non-estate’ assets, when making out your Will.
  • Having a Will allows you to appoint someone you trust to act as your ‘Executor’.
  • If using a ‘Will Making Kit’ to document your Will, have it checked for being ‘legally constructed’ by a professional solicitor.

What is a Will?

Under the Will, an ‘Executor’ is appointed who will look after your ‘estate’. The executor must: Collect all your ‘estate’ assets. Pay all your debts. Distribute your ‘estate’ in accordance with your will. A Will does not come into legal effect until after…

Why make a Will?

According to the Australian Securities and Investments Commission (ASIC), half of all Australians die without a will, meaning the law (within each State or Territory) decides where your assets will go after your death. You should make a Will even if you think…

What if I die without a Will?

If you die without a Will (known formally as “dying intestate”), the court (in each State or Territory), decides how your ‘estate’ assets are to be distributed, and this is usually done according to a strict legal formula. The court usually appoints the…

Handy Hints regarding your Will

As the laws are slightly different within each State and Territory, we suggest that you should conduct further online research by first consulting some of the links provided in our Useful Links – Preparing a Will section of this website. We have included a…

Useful Links – Preparing a Will

Useful links for Preparing a Will:  Please note that these links may be subject to change over time. For further research within your State or Territory please consult the following: Australian Government Law and Justice – Wills and Powers of Attorney Content –…