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Simple Will
A Will is one of the most important legal documents you can make. It ensures your assets are distributed according to your wishes and appoints someone you trust to manage your affairs when you pass away. Regardless of the value of your assets, every adult should have an up-to-date Will.
Why is having a Will important?
If you pass away without a valid Will, your estate will be distributed according to the intestacy rules in the Succession Act 2006 (NSW). This means:
- Your assets will go to specific family members, based on a set legal order.
- Friends, charities, and pets are not provided for.
- Loved ones who are financially dependent on you might miss out.
Having a Will ensures your wishes are followed and can avoid unnecessary stress, costs, and disputes for your loved ones.
Choosing an executor
Your Executor is the person responsible for managing your estate after you pass away. They will:
Identify and collect your assets.
Settle any debts.
Distribute your estate as outlined in your Will.
While it may seem like a compliment to appoint a family member or friend, the role can be complex, especially if your estate is contested or disputes arise between beneficiaries. We can help you make the right decision when appointing your Executor.
Avoid DIY Wills
While DIY Will kits might seem convenient, they often lead to costly mistakes or unclear wording.
Any uncertainty about your Will’s validity must be decided by the Supreme Court, potentially causing delays and extra expenses for your estate. It’s always best to have your Will professionally prepared to avoid these risks.
Keep your Will up to date
Your Will should reflect your current life circumstances. You should review and update your Will if you:
Buy or sell property.
Marry, separate, or divorce.
Welcome children or grandchildren.
Retire.
Change your beneficiaries or Executor.
Secure storage for your Will
Many people store their Will at home, but this puts it at risk of being lost, stolen, or damaged. If your original Will cannot be located, your estate could face additional legal costs, delays, and the possibility that your wishes are not carried out. At MP&S Legal Partners, we offer secure, free-of-charge storage of your Will, Power of Attorney, and Enduring Guardianship documents—giving you peace of mind that your important documents are safe and accessible when needed.
Bundle & save
See our Estate Planning Package for a convenient, cost-effective way to organise your Will, Power of Attorney, and Enduring Guardianship documents together.
To arrange your Simple Will, or to find out about Testamentary Trust Wills, call us on (02) 4284 0066 to book your appointment.
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