10 Reasons for Making a Will

Writing a Will is an important part of planning for your future and taking care of your loved ones. Here are 10 reasons why you should create a Will:

1. To ensure your assets are distributed according to your wishes – without a Will, the Statutory Intestacy Rules will decide who will inherit your assets.
2. To provide for your partner – unmarried couples do not automatically inherit on the death of their partner.
3. To provide for your spouse – a spouse does not automatically inherit any of the deceased’s assets.
4. To provide for step-children – step-children do not automatically inherit.
5. If you have recently divorced or separated – getting a divorce or judicial separation does not revoke a previous Will where you may have specifically named your spouse as a beneficiary.
6. To appoint a guardian for children – in the event of your death, you can ensure people you trust look after your children.
7. To set up a trust for beneficiaries – you can ensure that a portion of your estate is placed upon trust until the beneficiary reaches a nominated age.
8. To nominate an Executor – without a Will, a personal representative will be appointed to administer your estate. By making a Will you can ensure this important task is carried out by someone you trust.
9. To avoid unnecessary costs or family conflicts – your wishes are clear in a Will thereby reducing conflict.
10. To deal with the issue of advancements – you can ensure any former payments to children are clear as to whether they should form part of your estate or not.

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