Do I need a lawyer to draw up a Will?
No – anyone is legally permitted to draw up their own Will. The problem is most people don’t know how. That’s where Estate Plan Now can help.
At Estate Plan Now we have created a platform to guide you quickly and easily through the process of preparing a legally compliant Australian will. Our wills are approved by Australian legal practitioners and delivered to you online, to offer significant savings and convenience.
Our will documents are comprehensive and suitable for the majority of people living in modern day Australian relationships. The documents incorporate the flexibility to ensure your beneficiaries obtain the best outcomes.
At Estate Plan Now our Wills are designed and approved by a highly acclaimed legal practitioner, so you have the peace of mind of knowing your wishes will be carried out, with a minimum of fuss.
I have written out the details of who should get my assets, so that is enough?
The laws of the various States and Territories of Australia prescribe formal requirements that must be complied with, in order for a will to be legally binding.
Generally speaking there are three main conditions that must be satisfied for a Will to be considered valid:
- It must be in writing (whether handwritten, typed or printed)
- It must be signed by the Will maker
- The signature must be witnessed by two other people, who are not named as beneficiaries in the Will and all three parties should witness each other’s signatures.
The Will does not apply until death. This means it may be revoked and reviewed multiple times and only the last valid will applies.
Once the Will is drawn up, I can forget about it.
A will should always reflect your current circumstances and wishes. This means it should be regularly reviewed in order to incorporate any relevant changes. We highly recommend reviewing your will every two years, or earlier if your circumstances change.
A Will should reflect a snapshot of your circumstances at any current point in time. The Will would remain valid for as long as that snapshot remains largely unaltered.
Some examples of circumstances that may arise, requiring a new will include:-
- You change your name or anyone named in the will changes their name.
- If your executor dies or becomes unwilling or unsuitable to act due to ill-health, age or any other reason.
- If a beneficiary you have previously nominated dies.
- If any specific property has been left to a specific beneficiary and you subsequently sell that property or it changes in nature.
- If your family situation or that of any beneficiary changes (e.g. marriage, divorce, matrimonial problems, children or further children, de facto relationships).
- If you become involved in a new business, company or trust.
- If you take up permanent residence in another State or overseas.
At Estate Plan Now we have made making a new will affordable so cost is not a barrier. We have also made it easy and convenient. So as we like to say, there is no time like NOW!
Updating a Will.
There are two ways to update a Will, namely:
- Creating an entirely new document.
- Updating a portion of the will through a Codicil.
The most prudent option is to create a new Will to reflect any new wishes you want included.
All wills are the same.
No they are not.
Our platform is designed to ascertain your individual requirements. We can then supply a document that is comprehensive and suitable for your needs.
We make the process easy, but a lot of time, thought and expertise has gone into producing the end result.
Our documents incorporate the flexibility to ensure your beneficiaries obtain the best outcomes.
We also offer wills that transfer an intended beneficiary’s entitlement into a special trust, called a testamentary trust, to ensure the beneficiary receives the best tax outcome and to help keep the assets in the family, shielded from claims by the beneficiary’s spouse or creditors.
