Thinking of doing a will? Here is why you should consider doing one!
When there is a Will, there is a way,
Even if situations come what may.
Start by thinking of your asset pool,
It could be as insignificant as your jacket made of wool.
Be sure to nominate an executor,
Who will not end up being a perpetrator.
Your beneficiaries can be anyone you please,
But there is benefit in keeping your family members at ease.
If you need any further advice,
And are looking for someone nice,
We are more than happy to assist,
Just put us on your calling list.
~An original poem by JK Lawyers
Want to learn more about Wills? Read our Wills FAQs below!
1. What is a Will and why do I need one?
A Will is a legal document, which sets out who should receive your assets upon your death. Making a Will ensures that your assets are distributed according to your wishes upon your death.
2. What happens if I die without a Will?
If you die without a Will, you are said to have died intestate. In Victoria, your estate will be distributed according to the Administration and Probate Act 1958 (Vic).
3. Who should I appoint as an executor?
Your executor will be in charge of administering your estate. Your proposed executor can be a beneficiary, your solicitor or the State Trustees of Victoria. There are onerous responsibilities associated with being an executor of a Will, so be sure to discuss this with your intended executor, before nominating them in your Will.
4. When is my Will revoked?
Your Will is revoked when you create a new Will, if you get married or if you get a divorce.
5. What forms part of my estate?
Everything you own forms part of your estate apart from your Superannuation and your life insurance.