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5 Simple Steps to Making A Wills

In truth, you probably don't want to think about Making A Wills or succession. This is not really a pleasant idea and there is a lot to decide on. However, creating and building an effective will is an important part of your life, which requires serious consideration. It gives you the power to decide what you will get when you pass. Even though a will is a legal document, we can make it easier than you think.

How to Making A Wills

Here are 5 simple steps that you will need to Making A Wills.

Step 1: Talk to an expert in our Wills and Estates team

Step 2: Go to learn the details

Step 3: Make Some Personal Decisions

Step 4: Appoint an executor, trustee and guardian

Step 5: Keep your wills in a safe place. We will store it for you.

What If There Is No Wills?

Who gets your property? Who gets your prized possession? Who takes care of your children? These are difficult questions you will be asking after your family leaves. Without a Wills, these questions remain unanswered, possibly tension and drama for years to come.

Once legally drafted, the best way to ensure that your assets are delivered the way you want. And the right place to start chatting with an expert.

Step 1: Talk to an Expert in Our Wills and Estates Team

Even if your cases are simple, Making A Wills with the help of a qualified lawyer ensures that your wishes are met without any complication. In our experience, most people are not aware of the extent of their wealth and what can be given to their loved ones. This is doubly important if you are leaving behind a complex situation such as multiple estates; Family trust; a self-managed retirement fund; or a mixed family situation.

At Jackson & Associates, we make sure you have all the right information to help you make the best decision for your personal circumstances. A legal expert will give you peace of mind to know that your will is sensitive to your wishes, as well as being legally effective in execution.

Our knowledge, experience and ingenuity will bring you peace of mind knowing that you have protected your wealth and its distribution in the way you want.

Step 2: Go To Learn the Details

The fine detail of preparing a Wills varies from state to state in Australia. However, there are some basic requirements that you should know before you begin.

When Making A Wills, you must be over 18 years of age, and you should understand what you are doing. This is known as "testament capacity".

The will must be in writing. Hand written or typed

You should sign the Wills in front of two witnesses over 18 years of age. They should also sign the will. Witnesses may not be the beneficiaries of your wish, so be sure to select witnesses who will receive nothing.

Making A Wills

Step 3: Make Some Personal Decisions

You will need to decide on the beneficiaries - these are the people to whom you want to pass on your assets. In most cases, the beneficiaries are children, close friends or loved ones like spouse.

But you also want to keep in mind that you are including in your will. Your Wills not only determines who owns your property, but also who takes care of your children, who is responsible for your property and other important matters.

These options are highly personal, so you have a good idea of ​​who you choose. Just because you trust someone with your money, does not mean that they are the best person to raise your children!

Step 4: Appoint an Executor, Trustee and Guardian

"Appointing" is the official step to choose those who will take care of your affairs while you are gone.

You must appoint:

Executor: An executor is someone who "executes" or performs the terms of your will. Among other things, they ensure that your chosen beneficiaries actually acquire the assets you are passing on to them.

Trustee: A trustee is the person you nominate to handle the assets held in the trust. They can be the same person you appoint as their executor.

Parent: If you have children who still need parental care, guardians are the people who will take care of them.

Choose the right person for the right role, and make sure they can work together beneficially. The last thing you want is executors or trustees with competing interests. This means that if anything changes in your life, such as a divorce or a new family member, it is important to update your Will as soon as possible.

Step 5: Keep Your Wills in A Safe Place

This may be obvious, but it is very important to preserve your will. Keep it in a safe place where you can access it easily (if it needs to be updated quickly). At Jackson & Associates, we can store wills for people, ensure complete security, and ensure that any changes should they be required.

Be Ready To Update Your Will Quickly

Life happens. So naturally, a will is a document that is always changing. If circumstances change, it is important to update your will as soon as possible. It may involve some difficult conversations, but it is always for the best.

Making or updating a will can be a life-changing situation. At Jackson & Associates, we provide sensitive, expert advice to help you get the best possible. So contact us today how we can help you.

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