Why do I need a Will?
Because you care.
Because you care for your loved ones and you want to look after them.
And because you will die. Perhaps soon. Perhaps on Friday.
You do not need a Will for yourself. Why not? Because your Will has no legal effect until the moment you have died. Your Will provides for those you love after your death.
Making a Will may be one of the most selfless acts you will ever do in your life.
What should be in my Will?
Your Will can: –
- appoint Guardians for your children;
• provide maintenance for your dependants;
• leave specific items to specific beneficiaries;
• leave the residue of your estate to your family;
• provide for funeral arrangements, burial or cremation;
• give directions about assets that you control (companies, trusts);
• nominate who shall administer your estate.
If you die without a Will – and many people do – you should not leave your affairs in the lap of the gods. It is much worse than that. You leave your affairs in the lap of state legislation. Legislation which says who shall inherit your assets and how your estate shall be administered.
If you die without a Will your estate shall be distributed in accordance with the intestacy rules – a “one size fits all” fixed formula. Perhaps the formula does not fit your family’s size. It certainly didn’t fit mine when I was 15 and my father died. It also didn’t fit my two sisters or my stepmother. In fact, it didn’t fit anyone in my family at all.
Don’t leave your loved ones in limbo.
If you care about anybody you must have a Will.
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. Please contact Malcolm McColm.