Wills

Cost for one Will is $90 – cost for two Wills is $150 when prepared at the same time.

Phone 07 3354 1122 for an appointment.

 

What is a Will?

A will is a legal document which will as far as possible ensure your assets are distributed according to your wishes after you die.

Your Will can cover all your assets such as your house, land, car, shares, bank accounts and insurance policies.

In your Will you will appoint an executor to distribute your assets to the beneficiaries (those you choose to receive your assets). Your choice of an executor should be carefully considered as the role can be very demanding and often complex, requiring legal and financial knowledge.

Any person 18 years of age or older (or under 18 if married) and of sound mind can make a Will.

What will happen if I don’t make a Will?

“Intestacy” means dying without a Will. If you die without having made a Will, you assets will be distributed according to rigid formulae set down by the laws of intestacy.

Those laws may:

  • Force the sale of the family or family car so other beneficiaries can claim their chare of the assets.
  • Not provide a future financial protection for your children or grandchildren
  • Leave incapacitated members of your family without adequate support.
  • Give your assets to the government, if you have no relatives.

Furthermore, you will have no say in who administers your estate and who is appointed guardian of your children if they are under 18 years of age.

Preparing Your Will

A Will is a complex legal document which should be prepared by your Solicitor.

Before visiting your solicitor, consider:

  • Who to appoint executor
  • Who to appoint guardian of your children
  • What are your current assets and liabilities
  • Who should receive you assets
  • How you would like to provide for your children’s future

Your solicitor will not only ensures your Will is properly drawn up and correctly signed and witnessed, but may advise you on:

  • The appointment of an executor, their powers and remuneration
  • The appointment of your childrens guardian
  • You legal obligation to provide for you family, to minimise challenges to your Will
  • If necessary, the adequacy of your life insurance
  • Minimising capital gains tax liability
  • Funeral arrangements
  • Your Solicitor will also keep your Will in safe custody for you if you wish.

Changes to Your Will

You are free to alter your Will at any time and as often as you wish.
Your circumstances can change significantly over time so it is advisable to review your Will regularly.

On marriage, your current Will is automatically revoked unless it states it is made in contemplation of a specific marriage. If you divorce, your divorced spouse is not entitled to any assets under your Will unless you specify otherwise.

You may also wish to change your Will if any of the following occur:

  • Birth of children or grandchildren
  • Death of a beneficiary or executor
  • Financial changes
  • Home or property changes

If you wish to alter your Will seek the guidance of your Solicitor

Information supplied by Queensland Law Society – Making Your Will

 

Cost for one Will is $90 – cost for two Wills is $150 when prepared at the same time.

Phone 07 3354 1122 for an appointment.