Why do I need a Will?
Everyone has no doubt heard of the old adage “In this world nothing can be said to be certain, except death and taxes.”
Despite knowing this, many people die without leaving a will.
A will is a person’s final legacy and is the most important document they will sign. A will allows the deceased to have their final say about what they want to happen with their hard earned assets. It enables the will maker to ensure their estate is distributed how they wish for it to be distributed.
If you do not have a valid will at the date of your death, you pass away intestate. In short, this means your estate will not be distributed as you wish, but rather, after all the debts have been paid, the estate is shared in accordance with a formula set out in the Administration Act 1903 (WA) (Act).
This means you have no say in what happens to your estate. The Act also does not provide for the deceased’s friends or charities to inherit any of their assets.
A person you love and care for may not receive what you want them to receive because you have not written a will.
People can write their own wills, however, in our experience a badly written will often leads to delays in estate administration and legal disputes.
If you own any assets in your sole name, and wish to make enquiries about a new will, please do not hesitate to contact Valenti Lawyers.
