A Will is a legal document that names the people you choose to receive property and possessions of yours at the date of your death. These people are known as your beneficiaries.
Your property and possessions comprises everything you own, including your home, land, car, money in bank accounts, insurance policies, shares, jewellery, pictures, furniture, and so on. Making a Will is the only way you can ensure your assets will be distributed in the way you want after you die.
When you should change your Will?
- Marriage or commencement of a de-facto relationship including same-sex and domestic relationships
- Birth of a child or grandchild
- Death of a beneficiary or executor
- Change in financial circumstances including bankruptcy
- Changes to legislation e.g. Superannuation, succession law, income tax, capital gains tax and other taxes
- Place of domicile