Why a will? - CB Wills Perth
Why you need a Will
Everyone should have a valid and binding Will. Without one, the court appoints an administrator for your estate (that may cost considerably more than an Executor appointed by you) and it can take months for the process to be completed. There is no guarantee that your beneficiaries / dependents will receive your assets the way you may have intended.
The process of making a new Will does not need to be complex, time consuming or costly – a Will ensures the orderly management of your legacy when you aren’t around to exercise personal control.
As life goes on a number of circumstances often trigger the need to review your Will. In fact, they say it should be reviewed every three years.
Can I use a Will Kit?
Sure. I have gone to the effort of providing a section specifically for those who want to use a Will kit. There are many circumstances when a Will kit covers the basics for you. And it is better to have a simple Will, than nothing at all. But please consider the advantages and disadvantages before going down that route. Sometimes you may not have considered matters that might make a simple Will ineffectual or even invalidate the Will.
What if I have no assets?
You might think you have no assets to leave anyone, but maybe you have a mortgage? Debts / liabilities might only be in your name, but if you have a joint mortgage with a de facto partner or a guarantor on your mortgage, what then?
What if I don’t make a Will?
Without a Will it can be hard to work out who should apply for permission to deal with the deceased’s estate. The spouse, de facto partner or next of kin should apply to the Probate Office of the Supreme Court for Letters of Administration. The application can be complicated and it may be a whole lot easier to get assistance from someone with experience. If the application is successful, the court grants Letters of Administration to someone who then has the authority to deal with the estate.
Legal Aid WA has further materials about the process of dying without a Will.