Avoid these 4 critical mistakes when writing your will
Published 26 Sep 2017
Writing a will can be a strange thing to do - after all, no one likes speculating about what will happen after they die. However, it's an incredibly important step to take to ensure the security of your family, property and assets, should the worst happen.
Many Australians aren't sure what they should or shouldn't do or include when writing a will, especially if they don't have the guidance of an experienced Parramatta lawyer. Here are four of the most critical mistakes you can make when writing your will.
1. Accidentally making an invalid will
According to NSW law, a will is only valid if you are over the age of 18, if you are in your right mind and if it is printed (written or typed). In order to have the will legally validated, it must be signed in the presence of at least two witnesses, preferably including someone with legal experience. Without these criteria, the will won't be considered valid after your death.
2. Leaving certain assets or people out of the will
Though it might not seem necessary to dictate who will receive a particular family heirloom, or include every member of your family in the will, this could lead to issues down the road. The more comprehensive the document, the better - not only will it give you peace of mind, it'll prevent your family from a costly will dispute after your death.
3. Not updating the will
Wills need to be updated occasionally throughout your life, such as after a marriage, the birth of a child or grandchild, the acquisition of new property and many more scenarios. Failure to keep the will up to date could mean that your assets get passed down to someone other than the person you would like to have them.
4. Trying to write the will on your own
While it might seem tempting to write a DIY will rather than seek legal help, this can easily backfire. Without the proper guidance or research needed to draft a legally binding document, you might spend hours working on a will that won't be considered valid by a Family Court after your death.
Luckily, our team of lawyers at Malouf Solicitors is happy to help you write a will that best reflects your wishes for your family, property and assets. For more information, please reach out to a representative today.
Please call us on 02 8833 2000 to speak with a lawyer
I remain extremely grateful for Maloufs legal representation related to my financial management of the estate of my brother and for your continuing help and advice in this matter. As an aside, I always recommend Maloufs to my friends and family members who are seeking the best legal representation - only last week, I strongly advised a close family friend that their best interests would be served by arranging an appointment at your Parramatta offices.
John of Parramatta NSW