Who needs to make a Will?
By Kelly Stanford
I get asked this all the time. Usually by “young” people (I sound really old don’t I?) When I say “young”, I don’t mean kids who are still at school, I mean the “young” singles or double income and no kids “young” people. This group usually hold the view that they don’t have anything really to worry about and a Will isn’t necessary.
Nothing could be further from the truth.
If you think like this, ask yourself these questions “if I die ….” :-
- How will my family close my bank accounts?
- How will my family pay for my funeral?
- How will my family transfer my car out of my name?
- How will my shares be transferred?
- How will my family access my bitcoin J ?
The answer to these questions is, they can’t unless you leave a will?
There are other things to consider as well,
- Does my family know if I would like to be buried or cremated?
- Does my family know if I would like a funeral?
- Where should they put my body or ashes?
- Does my family know what assets I own?
- Does anyone know my email password?
- Can anyone close down my social media accounts?
- Does my family know who my superannuation is with?
- Does my family know if I have pre-paid my funeral?
Having a current Will at all times after you turn 18 is so important, not only for legal reasons, but so that if something happens to you, your family are not left floundering around wondering whether they are “doing the right thing” by you. They will know that they are because the Will that you created tells them that they are!
Don’t leave your family with more questions, call 1300 444 LAW to schedule your appointment today.
Kelly Stanford is a Collaborative Family Law Practitioner, Mediator and Arbitrator practicing in Australia and based in NSW. Kelly is married with adult children and is a proud grandmother. Kelly enjoys meeting friends on the weekend for walks, runs, rides, music festivals, long lunches and lots of laughs!