- What is a will?
Sometimes referred as last will and testament, is a legal document that expresses your wishes of how you want your assets distributed when you pass away. Commonly, a will consist of specific instructions on how a person want his estate to be distributed after his death which may include tangible personal property such as jewelry, shoes, artworks, collections of any kinds and the like. It may also include the naming of guardians for those who have children under 18 years old. The will may also specify where the money used for paying estate taxes and debts should come from. It should also name a person or entity that would serve as the executor. The will can only be valid when the person who writes the will dies. A will can be changed whenever you want.
To be valid, a will must have your signature and signature of at least two witnesses. It would be best to consult a lawyer in Fremantle to make sure that all aspect is covered and your will is valid.
- Why it is important for me to have a will?
Every person should have a will. Whether you are single, married, childless, divorced, and widowed, in good health or have a terminal illness it is important that you have created a will that would determine how your property shall be distributed when you are gone. Most of us, especially the young and healthy, neglect to write a will because we thought that we don’t need it yet until unforeseen circumstances happen and you left your loved ones without guidance on how to proceed. When you die without leaving a will, the law dictates on how your estate will be distributed depending on your marital status, whether you have children and any living relatives. Your property will be distributed according to the law, not according to your wishes.
A good lawyer Fremantle had once said, that a will is the most important piece of a document he/she can write because it expresses how much he/she value a person. Writing a will can also give you a peace of mind knowing that your loved ones and your property are in good hands when your time on earth is over.