Do I need a will? Does it need an update?
The question is often posed, why would I need a will? I’m young and I don’t have a lot of assets.
Most people don’t realise that even within their normal superannuation fund, they have several hundred thousand dollars in superannuation life insurance, a significant pool of potential assets and something that may not have been considered. More importantly, and sadly, often times there is a chain of events, which results in someone receiving a significant legacy and not getting their will in place, just in case. This might happen where you are a potential beneficiary of a grandparent or parent’s estate, not having a will can either complicate or delay matters further.
Maybe you have an existing will, but does it reflect your circumstances now? Parents may have children with acute financial problems or are going through personal relationship matters, without a valid will in place, everything you worked for may not go as intended. Often times an original will may have no reflection on the current situation of the family, we often see wills which nominate executors who have passed away or are no longer able to act in the role.
Unsure of what to do? ADS Law offers 15 minute free consultations, contact us and come in for a chat.