Writing a will in Australia is a crucial step in ensuring that your assets are distributed according to your wishes after you pass away. Here are the steps to follow when writing a will in Australia:
Step 1: Decide how you want your assets to be distributed Before you start writing your will, take some time to think about how you want your assets to be distributed after you pass away. Consider who you want to inherit your assets and how you want them to be divided.
Step 2: Choose an executor an executor is the person who is responsible for carrying out the instructions in your will. Choose someone you trust to be your executor and let them know that you have chosen them.
Step 3: Write your will You can write your will yourself or use a solicitor or will-writing service. If you choose to write your own will, it’s important to make sure that it’s legally valid. Your will should include:
- Your full name and address
- The name and address of your executor
- A statement that revokes any previous wills you may have made.
- Details of how you want your assets to be distributed.
- Signatures from two witnesses who are not beneficiaries of the will.
Step 4: Store your will safely Once your will is written, it’s important to store it somewhere safe. You can keep it in a secure place in your home, or you can store it with a solicitor or a bank. Make sure that your executor knows where your will is stored.
Step 5: Update your will regularly It’s important to update your will regularly, especially if your circumstances change. For example, if you get married or divorced, have children or grandchildren, or if your financial situation changes, you should update your will to reflect these changes.
In summary, to write a will in Australia, you need to decide how you want your assets to be distributed, choose an executor, write your will, store it safely, and update it regularly. If you’re unsure about any of the steps, it’s always best to seek legal advice.