Few things in life are certain, however all good things must come to an end. Preparing a Will is often a confronting task, something you contemplate but set aside as a task for “later on”. Unfortunately, not everyone has the opportunity to prepare for the end.
It is important that everyone over the age of 18 has a current and valid Will, to ensure that in the event of death (whether expected or unexpected), their estate is dealt with in accordance with their wishes.
At very least, all parents should have a Will which details who they wish to care for their infant children and who they would like to benefit from their estate. Often for parents, this will be their spouse in the first instance, and their children in the second. Your Will should deal with who you want to be responsible for taking care of your children’s money until they are old enough to manage that themselves.
Similarly, everyone who owns property or has any assets should also draft a Will to ensure that, in the event of death, any assets they have are disbursed in line with their intentions.
All Wills need to nominate an Executor, the person tasked with adhering to the wishes of the Will-maker (or “Testator”). We recommend that you appoint at least two Executors, in case your Executor passes away at the same time as you, or before.
At Kydon Segal Lawyers we can assist in all of your Estate Planning needs, including advising you on structuring your estate and the supporting documents, drafting Wills (basic, complex and testamentary trust Wills), drafting Enduring Powers of Attorney and Enduring Guardianship documents, drafting and assisting with Advance Care Directives and all other documents you may require for your future planning.
On Saturday 27 October 2018 we will be conducting a Wills Day to raise funds for our farmers through Rural Aid Australia. We will be donating $150 from every individual Will and $250 from each pair of spouse Wills made on 27 October 2018 directly to Rural Aid Australia. Please note, Wills entered into at our Wills Day on 27 October 2018 will be strictly by appointment only.
If you are interested in creating or updating your Will, please contact us via telephone on 9344 200 or email meagan@kydonsegal.com.au to discuss how we can help give you peace of mind, and you can help us raise much needed funds for farmers in need.