What is a Will?

A Will is a legal document that allows you as the drafter to set out your wishes when you pass away.

In setting out your wishes under your Will, you can name persons you wish to administer and/or receive your estate, or become the guardian of any children you may have under 18 years of age.

Your Will can capture specific gifts to certain beneficiaries, including for example institutions such as hospitals or charities.

You can also set out your funeral directions under your Will.

What happens if I die without a Will?

If you die without a Will, then this is referred to as dying ‘intestate’ (not to be confused with ‘interstate’).

If you die intestate, since no one has been appointed by you to administer your estate the government will take control over your assets. In doing so, the government will be responsible for deciding how your estate is divided, which could mean that your property and possessions will not be distributed as you would have wished.

Additionally, the government will impose fees and charges against your estate for their services. So by drafting your Will, the cost of administering your estate could be reduced, significantly.

Importantly, drafting your Will can help ensure your loved ones are properly provided for, and this can also help avoid family disputes from arising after your death, which can be costly. Whilst seeing a lawyer can be expensive, however not preparing at all could cause trouble for your family during what may otherwise be an emotional time.

If you wish to decide how your estate will be divided, then you should draft your Will.

By drafting your own Will with Maddison Wills®, you can take control over your future estate whilst being in your own comfort and privacy.