What is a Will?
A Will is a legal document which indicates what you would like to happen with your money, belongings and other assets (your estate) when you pass away.
Your Will names who you want to give your estate to and who you would like to administer your estate when you pass away (your Executor).
A Will also lets you name guardians for your children and establish a trust to provide for your children or a person with a disability.
Why do I need one?
If you pass away without a valid will, you pass away ‘intestate’. This means there is no guarantee that your assets will be distributed as you would like, and your family and friends may not be provided for as you would like.
In this case your assets will be distributed according to the Queensland laws of intestacy (see Part 3 of the Succession Act 1981.)
You may also need a Will if you have a blended family unit or are estranged from family members as a Will ensures your estate only goes to those who you nominate.
How do I make a will?
You can create a Will by yourself, however often they are incomplete or invalid. If this happens the result can often be lengthy and costly court proceedings and you may not have your estate distributed as you wish.
By seeing a solicitor who specialises in these documents you can ensure your Will is valid and your beneficiaries are taken care of according to your wishes.
To make a Basic Will with us you will need identification, either a current driver’s licence or a passport.
You will need the full names and correct spelling of everyone you wish to name in your will, as well as their current addresses.
You should also have a general idea of what you have, and how you would like to disburse it.
When should I make a Will?
To make a valid will, you must be at least 18 years old, and of sound mind, memory and understanding. You can review your will as often as you like. You should review your will at least every 3 to 5 years to ensure it still reflects your wishes and circumstances.
If you have had children, married, divorced or had any other significant life changes since you last created a Will it is a good idea to update it today.
What else should I know?
We start with Basic Wills at Ron Lawson Lawyer, but we have decades of experience drawing up complex Wills as well. A complex Will includes making provisions for aspects such as blended families, special needs beneficiaries, trusts, businesses as well as making sure there is a tax minimisation and a maximisation of asset security.
The Ron Lawson Lawyer Difference
Ron Lawson has been specialising in Wills for over several decades and will ensure you are prepared properly no matter what your circumstances are. Simple or complex we will make sure your Will is done correctly, in a timely manner and for a reasonable fee.