Why is having a Will important?
When you think of making a Will or planning your estate, "do it another day" or “I don’t have to worry about that yet” may be your first thought. However, planning your estate is the only way to ensure that your wealth and assets will be properly distributed, the way you want, to the people you care about - which is why it's important to think about it now.
Estate planning isn’t something to put off until retirement, or when grandkids come into the picture. Getting married, entering a long-term relationship, starting a family, moving overseas or investing in your first home are all times when we start thinking about and planning for the future. While we tend to focus on the immediate paperwork, like insurance or contracts, we can often forget about the important legal documents that protect ourselves and our families down the track.
Creating a Will is important to ensure new family members are considered, all assets are accounted for and your loved ones are aware of your wishes for when you pass.
More than a Will: planning your estate
Estate planning is designed to protect yourself, your assets and your loved ones. It’s one part of your financial plan that ensures your estate (your assets, such as your home, savings and other investments) is managed how you want in the event that you’re unable to make decisions or pass away.
Generally, a complete estate plan involves:
- looking at your assets, investments and estate holistically
- nominating decision makers to act on your behalf
- ensuring that the ownership of your assets is passed on to the correct beneficiaries
- ensuring that your assets are protected in case a beneficiary has any legal problems or special needs
- creating a Will (legally binding) and a Statement of Wishes (morally binding).
Our expert estate planning lawyers can ensure that you have the right strategy in place and help you to develop an effective plan. We understand the nuances and attention to detail required for every estate plan, which is why we take the time to understand your wishes and develop your plan together, giving you peace of mind and reducing stress on your family.
Plan your Will and estate now
We know estate planning can seem overwhelming. We have a number of ways to help you get started; from a standard Will you can start online immediately, right through to full-service estate planning solutions that can deal with complex family and business structures.
'I wish I had recognised the importance of making a Will sooner. A small investment then could have saved me months of trying to find answers on my own'
Wills & estates
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Our Canberra office is now closed, but our team continues to serve ACT clients and are available for phone and video appointments. If you need legal advice, please call us on 1800 675 346.
We have lawyers who specialise in a range of legal claims who travel to Tasmania. If you need a lawyer in Hobart, Launceston or elsewhere in Tasmania, please call us on 1800 675 346.