To help convince those who are skeptical or even doubt of Making A Wills, we have listed 10 very good reasons that you need to. 1. First and foremost, a desire will keep you under control. You decide who will inherit from your property and who they are entitled to. You also decide who will manage your affairs after your death. 2. If you do not Making A Wills, the intestinal rule will decide who benefits from your property and may produce undesirable results. The law also sets out a hierarchy that is capable of handling your financial affairs after death, and this can cause problems if the person is not fit for age, health, geographic location, or any other reason. 3. When you Making A Wills through a suitably qualified estate planner / will writer, the chances of a problem or dispute arising after your death are reduced. Disputes occur more often when a person dies without any Wills, as some people are entitled to apply to the court to challenge a provision made by the rules of terror if they deem it unfair. For example, a long-term unmarried partner will not receive anything under the intestacy rules, so may have to consider making an application to the court to be awarded a share of the property. There is enormous stress and expense associated with such claims. 4. While a Wills can sometimes be challenged on the grounds that it is unreasonable, courts are generally more reluctant to interfere with the provision made by the will provided by the injunctive rules. 5. It is often quicker, cheaper and less stressful to manage a property where there is a will. If you die without a will, it may be necessary to commission genealogical research to identify any lost or unknown relatives to your property which can be very expensive and time consuming. 6. Also enables you to preserve property for beneficiaries. For example, if you have property and / or business interests, you may wish that they could pass on to some people, while others may leave the property to others. The intestacy rules provide for the division of your entire property, therefore, if more than one person is due to share, the sale of the property may be required. If you own a business, it can create problems and uncertainty for your employees and the property may need to be sold even if it is home to a particular beneficiary or other dependent.
7. Can be used to ensure that you make provisions for this, while protecting assets for other beneficiaries. For example, married couples can very easily determine their will to protect a portion of their home from being used for payment of care fees. This will give them the comfort of knowing that the property is available for survival as long as it is necessary. Equally, for couples who each have children from previous relationships, a trust can be used to ring a portion of the property for those children. Otherwise, as a result of intestacy rules all marital property can be passed on to the surviving spouse, the first spouse's children receive nothing. This, in effect, produces a lottery, with the prize going to die children of the other spouse. 8. A good faith in your Wills will enable someone to manage the inheritance you have left for a disabled or vulnerable person, and ensure that the intended beneficiaries are not able to take advantage of their means. 9. If you die without a will and a portion of your estate is left to a vulnerable or disabled beneficiary, appoint someone in your court before paying your share to the person handling your property This may need to be urged to happen, a process it is both costly and time consuming. This is because people who lack capacity are unable to give valid receipts for their share of assets. 10. You can nominate someone to act as a guardian for your children (if your children are minors when you die) and you can also enter your funeral will in your will. These are things that people usually do not discuss in a family, so formally expressing your ideas in a will can provide very useful and practical guidance for you.
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Jackson Associates Solicitors Belair, South Australia in dealing with Wills, Powers of Attorney, Advance Care Directives and Probate, Deceased Estate Administration services in Belair, SA Archives
November 2020
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