Will Your Money End Up In The Right Hands
Written on the 27 July 2015 by Janet Culpitt
Do you have a Will ? It's an important part of your Financial Plan.
Your Will is a document which states your wishes on how your property and assets (your estate)
are to be distributed after your death.
Wills are not just for the rich or elderly, anyone with a car, savings or sentimental items should have a will.
Surprisingly it is estimated that only 48% of Australians have wills.To make a Will you must be at least 18 years of age (unless you are under 18 years and married).
A Will can be made a in a number of ways: a will kit, Public Trustee, private trustee company over the internet or with your solicitor.It's important to keep your will updated so that it reflects your current wishes and circumstances.
Here are some things to think about before you make your will:
Possibly. E.g. In Queensland, a married spouse, de facto spouse, children and a financial dependent
can make a claim against a Will if they believe they were not provided for adequately by the Will.
You are able to make a claim against a Will for up to 6 months from the date of death.
A Will must be in writing and signed by the Will maker, in the presence of 2 witnesses, not named in the will,
who are present at the same time. The 2 witnesses must also sign the Will.
If the witnesses are beneficiaries of the Will, then any gift to them in the will is void.
The question you need to be asking yourself now is. Do you have a Will and will your money go in the right hands, at the right time?