Here at Homevisitwills we are extremely concerned that two-thirds of adults do not have a valid will. This potentially means they are leaving families with serious problems if they die.
Homevisitwills senior consultants, Sharon Hunt and Colin Chapman, said a survey recently carried out found only 35 per cent of adults had a current will.
The survey conducted found that probably half of the WA population have got a will, but when people were asked if they died tomorrow whether they would be happy with their estate distributed as set out in their will, they said no,”.
The survey also found that only 19 per cent of families with young children have a will.
If you have minor children under 18 you want to be able to say how those children are to be cared for if you do pass away.
In a valid and up to date Will you can appoint guardians for your minor children.
Who needs a will?
Many young people don’t think they need a will as they have few assets, and many people believe that if they die without one their estate will simply go to their partner or nearest relative. Neither assumption is correct.
If you are over 18 and you are working you generally have superannuation that comes with a death insurance policy.
Often a lot of people are passing away with a death benefit of around $200,000, and those people have died without making a valid Will.
These people thought they didn’t have anything to pass on.
If you die without making a Will it might mean that your spouse only gets the first $50,000, and then the rest is shared out among other family members.
People have been known to have to sell their homes to pay out other family members in these cases.
There are many examples of hardship and family squabbles where somebody passes and they did not make a Will and there was uncertainty about their wishes.
Changing family structures
Willcraft always advises its clients to review their wills regularly.
Family circumstances can change in a heartbeat meaning that appointments such as executors or guardians may need to be amended quickly.
There are some things that will make your will null and void, like getting married or divorced too.
If amendments to Wills are not made at the right time it is possible that subsequent squabbles or even court battles between family members over an estate could last for years.
Willcraft offer a FREE annual review service as an integral part of their services.
This is provided via the Secure Document storage service available to all clients.
Willcraft also do not encourage the use of DIY will kits for most people.
If you are a young person with few assets and without a blended family structure, and you’re not married, it may be a quick simple solution for you now because it is a very inexpensive option.
However, most people don’t know what they are doing when they draft a will and Homevisitwills recommend getting legal advice when you do it.
Take CONTROL of your assets, PROTECT your family and assets and provide PEACE OF MIND for you and your loved ones.
If making a Will is something you have been ‘meaning to get round to’ take ACTION today!