Christmas gives us a chance to reflect and plan for the year ahead. It is also an ideal time to consider making a Will or reviewing your existing Will.
Life can be busy, even chaotic, and does not always turn out as we expect it to — as the saying goes: ‘the best laid plans of mice and men often go awry’.
With this is mind you may want to consider how best to protect your family this Christmas and well into the future. At HHG Legal Group we believe a Will is one of the most important documents to have when it comes to preserving the long-term financial security of your family. Do you have a Will? If you do, when did you last review your Will? Wills can be simple, detailed or complex. It depends on:
- What assets you have;
- How you own those assets; and
- Who you want to leave your assets to.
If you already have a Will, the questions below can help you decide if the terms of your Will may need to be updated. Equally, if you don’t have a Will, these questions will give you an excellent starting point when planning your new Will.
Have my circumstances changed since I signed my Will? Consider:
- De-facto relationships; and
Do I have more assets to leave?
My Other Beneficiaries
Are all the beneficiaries in my Will still alive?
If Yes – do I still want that person to benefit from my assets?
If No – am I happy with the substitute I have nominated?
Has my family grown and have I made adequate provision in my Will for my family?
When I’m gone – who will care for my children?
Are the Guardians that I have appointed still in a position to look after my children?
Is there someone else I should be thinking about or asking?
How are my assets going to be used to benefit my children?
Who have I appointed to look after the “purse strings” – and am I happy with my choice?
Am I still happy with the age that I’ve directed when my children will receive the bulk of their inheritance? Do I want to change this to 18, 21, 25 or another age?
(has the responsibility of putting into effect my wishes and directions as set out in my Will)
Am I still happy with the person/s I’ve appointed?
Has my Executor passed away or lost testamentary capacity?
Have I told my Executor about the appointment and does my Executor want to be my Executor?
In fact, have I mentioned to anyone that I have a Will and where it can be located?
The reality is if you die without leaving a Will the law will decide which member of your family gets a share of your estate and how much they get. If you would like to make your own arrangements make an appointment to see a member of our Wills and Estates Planning team.
At HHG Legal Group we tailor our advice to suit your individual circumstance. Ultimately, you will choose what you want to include in your Will. We will assist you through the Will making process by providing you with the information that you need to make a real and informed decision.
Keep your family safe and protected – don’t put off making that appointment to make a Will or to review your Will. Make sure that those assets and possessions are passed to the people that you choose*.
We look forward to seeing you and assisting you with all your Estate Planning needs.
(*subject to Family Provision Act claims)
This is general information only, and does not constitute specific legal advice. If you would like further information in relation to this matter or other legal matters please contact our office at firstname.lastname@example.org or call us on 1800 609 945.