A will is a written document that sets out how a person wants their assets (estate) to be divided after their death.
Your will is arguably the most important document that you will ever sign. It is imperative that your will is clear, legally valid and up to date to help ensure that your estate is distributed according to your final intentions.
There are specific legal requirements that need to be met in order to have a valid will, these include:
- It must be in writing, either typed or handwritten.
- It must be signed by the person making the will or by some other person in the presence of and at the direction of the person making the will.
- The signature of the person making the well must be made or acknowledged in the presence of two or more witnesses, present at the same time.
- The witnesses must sign the will in the presence of the person making the will.
- The signature of the person making the will or person singing at the direction of and in the presence of the person making the will, must be made with the intention of executing the will.
It is also important to make sure your will is kept up to date. Whether you intend to revoke or make changes to your will, it is important to update your will when the following occur:
- a change in relationship;
- the birth of child;
- intended overseas travel; or
- a change in financial standing or if new assets are acquired.
For further advice regarding wills or if you would like to book a consultation to prepare or make changes to your will, please call (02) 9232 8033 or alternatively email fg@fglaw.com.au.
