Haven’t Made a Will Yet? Here’s Why You Need To.
- Malcolm McColm
- Oct 1
- 2 min read
There are things that you need to consider carefully before you make a Will including:-
what assets do I own?
what assets do I control but not own?
who should be in my thoughts when making a Will?
who are my family members and who are my dependants?
do I want certain items to go to particular people?
who will administer my estate and ensure that my wishes are carried out – not merely to the letter but also in spirit?
what are the consequences of me making a Will in the terms that I would want?
what do I want done with my body after I die – burial/cremation/funeral service?
These things and more need to be considered by you before preparing a Will.
Additionally there are strict formalities to be followed when preparing a Will if it is to be valid.
It is very risky to simply write “all to Mum”, sign your name and expect that this wish shall be carried out.
Once you decide that it is important to have a valid Will – and it is – then you can achieve that within a short space of time – weeks at the most.
In Queensland you must be 18 years of age to make a valid Will unless you are married or intending to get married.
Additionally, the Court may authorise a person less than 18 years of age to make a Will in terms stated by the Court if the Court is satisfied that the person understands the nature and effect of the proposed Will and that it is reasonable for the Will to be made.
A Court may also make a Will or alter an existing Will of a person who does not have testamentary capacity in limited circumstances. Application must be made to the Court for such an Order.
You would be amazed at the number of people who I speak to who are loving and considerate partners, spouses or parents and who have been intending to make a Will for a long period of time but have not. Often for years.
Face it. It is an unavoidable fact. We are mortal.
Please contact MMLaw for all your estate planning needs.
MMLaw
The information in this document represents general information and should not be relied on for your specific circumstances. If you require legal advice and assistance on the matters contained or associated in this document you should contact MMLaw.