It depends on whether or not you have a valid Will. There are technical requirements for the preparation and signing of a Will for it to be valid.
To ensure that your estate, your hard-earned assets, is distributed according to YOUR wishes rather than a legislative formula being used to determine who gets what, you should obtain legal advice and make a Will.
The costs to your estate if your Will is challenged in court, or has to be proven as your last Will, or if you die without a Will, the costs of obtaining letters of administration, if required, to distribute your estate, will be substantially greater than the cost of making a Will. It also prevents confusion, conflict, and stress in the future for your family.
“I don’t need a Will because I am too young, I don’t own a house or a car” – Wrong!!
The value of your estate may be worth more than you think. You may have superannuation, receive an inheritance, or in the event of an accidental death, the proceeds from an insurance payout will need to be distributed.
Before you pack your bags for local, interstate, or overseas travel during holidays, make a Will, then relax, knowing that your loved ones are taken care of.
If you have a Will, review it regularly, especially when significant events occur such as the purchase or sale of an asset, separation, remarriage, the birth of a child. Certain life events may also render your Will invalid.
Contact Cornerstone Law Offices for solid legal solutions in Wills & Estates, all aspects of Family Law, Conveyancing and Debt Recovery.
CORNERSTONE LAW OFFICES
Level 27 Santos Place, 32 Turbot Street, Brisbane
Suite 35, 37-59 Bryants Rd, Loganholme 4129
P: (07) 3181 5677
101 Ashmore Road, Bundall, Gold Coast 4217 P: (07) 5538 9119