Information kindly provided by the expert, and award-winning local law firm Our Lawyers.
We get it, estate planning might not be the most thrilling topic on your to-do list, but taking the time to create a well-thought-out will is one of the smartest moves you can make. It’s all about making sure your wishes are carried out and sparing your loved ones from potential confusion and disputes down the road.
We’ve teamed up with the experts at Our Lawyers to share why the proper creation of a will is crucial and how it can help you steer clear of potential pitfalls.
Here’s why it’s a big deal:
1 :: Clarify Your Wishes
When it comes to your assets, clarity is key. A properly executed will mean that your assets are distributed according to your precise instructions, minimising the chances of family disputes and confusion. This isn’t just about who gets what; it’s about making sure your specific preferences are respected, from treasured heirlooms to who takes care of your pets.
2 :: Avoid Family Feuds
Let’s be honest—money and belongings can sometimes cause rifts among family members. A well-drafted will acts as a clear guide, reducing the potential for disputes and meaning your wishes are honoured. With a clear will, there’s less room for misunderstandings and disagreements during an already emotional time.
3 :: Appoint Guardians Wisely
If you have children, appointing a guardian is a super important decision. Your will allows you to choose someone you trust to care for your kids if anything happens to you. This not only considers their well-being but also provides peace of mind knowing they’ll be looked after by someone you’ve chosen.
4 :: Avoid Costly Mistakes
A recent case involving tech entrepreneur Andrew Findley really drives home why getting your will right is so important. Findley’s estate ended up with lots of legal involvement because he didn’t properly execute a new will after separating from his former spouse. Even though there was a family law property settlement, his informal will got tangled up in a legal battle. This whole issue shows just how important it is to have a properly done, updated will to avoid any unnecessary stress and confusion for your loved ones.
5 :: The Risks of DIY Wills
While DIY will kits and online services might seem like a convenient option, they can lead to costly mistakes. Common issues include incorrect signing or poorly drafted contents, which can result in legal disputes and significant expenses for surviving family members. Investing in professional legal advice helps avoid these pitfalls and ensures your will stands up to scrutiny.
6 :: Seek Professional Advice
Navigating estate planning can be tricky, and while it’s possible to create a will without a solicitor, the peace of mind that comes with professional guidance is invaluable. Proper legal advice can help you avoid potential issues and ensure your will is valid and effective. If visiting an office is challenging, Our Lawyers actually offer home visits to make the process more accessible.
7 :: Your Legacy Matters
You’ve worked hard to build your assets and provide for your family. Investing time and resources into proper estate planning is a vital step in safeguarding your legacy. It’s worth the effort to ensure your estate is managed according to your wishes and to spare your loved ones from unnecessary stress and legal battles.
So, taking these steps not only helps you ensure that your wishes are honoured but also provides peace of mind for your loved ones. For more information or to get started on the proper creation of your will, reach out to Our Lawyers. They’re here to help with all your estate planning needs, whether it’s through a face-to-face consultation or a home visit.
Our Lawyers has a team of Wills experts headed by Sara Price, Wills lawyer, who is the only Accredited Specialist in Wills & Estates Solicitor in the Southern Highlands so you know they have the skills, knowledge and expertise to support you.
A Leading Law Firm in the Southern Highlands
At Our Lawyers, our experienced legal team offers a friendly and personalised service to all of our clients, with every effort taken to ensure that we deliver results in all areas of the law. We understand the importance of individual attention, and so we are here to work with you every step of the way to ensure that your legal requirements are met. We strive to provide an approachable, client-centred, and successful service so that you can feel confident that you are receiving the best possible legal advice.
Our expertise covers a wide range of areas, including but not limited to family law, conveyancing, commercial law, wills and estates, and property law.
Our team of experienced lawyers will guide you through the legal process, ensuring you have the information necessary to make informed decisions. Our Lawyers have provided quality legal services to clients in the Southern Highlands for over 20 years. We are approachable, modern, and efficient.