In short, yes – everyone who has any assets should have a will that outlines what will happen to these assets in the event of your passing away. Having a high quality will can help avoid family disputes, can help avoid losing your estate’s value to court costs and will help your friends and family deal with your passing.
Drafting a high quality, comprehensive will can be difficult if you have significant assets. Unless you have a comprehensive knowledge of Australian wills and the legal system, you should consider employing a family lawyer to help you draft your will to make sure that you don’t miss anything important.
Unfortunately, a lot of people don’t believe that they need a will. Even if you’re young and in good health, you could fall victim to an accident at any moment. Everyone needs a will, and here’s why:
If you don’t have a will in place, people may fight over who is entitled to what assets and parts of your estate. However, a high quality will drafted with the assistance of a legal professional will make sure that your estate can be settled fast and efficiently.
If your will clearly states what you’ve left to who, there’s little room for argument. Since wills are legally binding documents, clearly specifying what you want to leave to who will reduce the risk of family breakdowns or fights over your assets.Read Full