When is the right time to make your Will?
“I’d like to make a Will but I don’t have a lot of assets and it hardly seems worthwhile,” or
“There is plenty of time for that sort of thing later, isn’t there?”
Sound familiar? These are the two most common reasons, or excuses, for why people do not make a Will.
However, no matter how insignificant we believe our assets are, now is the time to make a Will.
Whether we have plenty of time or not is something that we really do not know. We insure our car for the unexpected and we should cover ourselves with a Will for the same reason.
Your Will may be your last words to your family. It warrants careful consideration and is best made when we are healthy and alert.
An Executor managing your estate pursuant to your Will avoids the need for costly Court applications to allow access to the funds of the deceased estate. This is a very good reason why we all should hold an up-to-date Will.
Even with minor assets, dealing with financial institutions in a deceased estate can become a lot easier when a copy of the Will nominating an Executor is available. A Will enables financial institutions to allow the Executor access to accounts.
A Will is revoked if you marry or remarry, unless the Will was made in contemplation of the marriage. On marriage it is advisable to make a new Will. Divorce may also revoke certain aspects of your Will.
Our expert Wills Officers can talk to you, and prepare a Will tailored to you personal circumstances. Public Trustee South Australia has a free Will preparation service for people wishing to appoint Public Trustee as Executor.
If you would like more information, please contact us on (08) 8226 9200 or 1800 673 119 (country SA toll free) between 8.45am and 5.00pm, Monday to Friday, or alternatively click here to complete one of our on line forms and we will be in touch.