We at PJM Lawyers recommend that all our clients over the age of 18 have a Will drafted.
A Will is a document that gives directions as to how your assets or estate are to be treated after your death.
If you die without a Will or valid Will in New South Wales, then you are said to have died “interstate”. The Court then strictly applies a formula of where and whom your assets are distributed to regardless of your wishes. This is a rigid scheme with no flexibility and disregards many relationships. Often seeing your assets go to family members where no or little relationship exists.
A Will can be made by anyone whom is:
- Of sound mental capacity;
- Is over the age of 18;
- Under the age of 18 but who is married or in the contemplation of marriage or his approval of the Supreme Court.
We strongly recommend that even if you currently have a Will, if you have had a significant occurrence such as a marriage, divorce, entering or leaving a de-facto relationship, following the birth of a child, the death of a beneficiary, acquiring or disposing of property, your Executor dies or becomes unsuitable, if the needs or financial circumstances of any beneficiaries changes, then your Will requires review and potentially updating.
A well-drafted, current and up-to-date Will is your opportunity to ensure that your assets are treated the way you desire upon your death.
For a Will to be valid, the minimum requirements for a while are that:
- The Will is in writing;
- The Will is signed by the Will maker;
- The signature is made in the presence of and acknowledge by at least two witnesses who must be in the presence of the Will maker at the time it is signed. Beneficiaries of the Will cannot be witness of the Will;
- The signature must be made with the intention of executing the Will.
While the minimum requirements appear simple, Wills are a technical and often complex document. We thoroughly recommend you seek our assistance with this important process.
PJM Lawyers also provides a service, whereby, we can safely store your original Will drafted by our firm in a water proof and fire proof safe ensuring you peace of mind and ensuring your wishes are protected.
At PJM Lawyers, we have the most up-to-date Law Society approval precedents/knowledge and still provide you with timely quality and essential advice to assist you in drafting an appropriate Will to protect your wishes and desired about the administration of your Estate.
Give us a call to organise an appointment today!