Every day people make excuses as to why they don’t need to protect their most valuable assets by having a will.
Reasons commonly given include:
- Aren’t wills for rich, old people?
- I don’t have much to worry about really.
- Getting a will is too expensive, and time consuming.
- I’ll be dead anyway, so it’s not my problem.
- If I talk about it too much I’ll jinx myself.
- My family all love each other – they won’t fight about my things.
- I don’t need a will because my wife/kids are going to inherit everything anyway. She/they’ll take care of it.
The response to all of these furphies is a resounding -WRONG.
Whilst not having a will may mean that assets eventually find their way to next of kin the pathway without a will is longer, more expensive, and usually means court involvement.
Of course, not having a will means what you wanted may not happen.
When people die without a will (called an Intestacy) the law sets out a formula that applies to distribute assets in different proportions between next of kin. A simple will would prevent unintended consequences occurring.
Wills are not expensive (usually under $500). Unless the estate is complex there is no need for a testamentary trust or other complications to blow out costs.
Sunshine Coast Elder Law are experts in Wills, Estate Disputes and Estate Management. Contact them on 1800 961 622. Or visit sunshinecoastelderlaw.com.au or www.brisbaneelderlaw.com.au