A Will is a legal document that directs who will receive your property and possessions after you die.
Having a valid will, you give yourself the best chance of making sure your assets go where you want them to. Therefore, you should always make a valid will if you have family members or if other people are financially dependent on you. Then they will be able to inherit your assets in accordance with your wish.
Valid Will
A valid will must be:
- in writing;
- signed by the testator when the testator has the capacity to gift;
- witnesses by two people when the testator is signing the will.
Caution about Homemade Wills
Writing your own will may seem easy, so some people choose to make their own will. However, the law around wills can be complex. We think making a will is serious and requires professional advice and assistance.
A DIY will is more likely to be contested because you risk not drawing it up properly or not expressing your intentions clearly enough. It could end up in court to decide what was your intention concerning the disposition of your assets. It not only delays your loved one’s inheritance who needs your financial help but also costs more in the court procedure.
Speak to CFS Legal dedicated lawyers in confidence for wills advice. Email: info@cfslegal.com.au