What is a will?

A will is a legal document that only operates after death to direct how assets should be distributed. A properly drafted, up-to-date will is the only way one can be sure assets are dealt with and loved ones cared for in the way the deceased chooses. Assets might include property, cash, super, investments, business interests, valuable items such as cars or jewellery or anything else you leave behind.

Preparing a valid will with Osborne Howell Lawyers ensures you are aware of all of your options, including:

• Who looks after the estate and acts as executor;
• What items and assets can be left and who gets what
• payment of debts or liabilities;
• care of children & pets
• burial wishes.

Why make a will?

If a person dies without making a will, the estate, assets and belongings will be divided and given to relatives by a set of rules rather than by a person’s wishes.

Creating a legally binding will ensures people pass on the assets and belongings to the people they want to.

If a will does not comply, or is ambiguous, it may become challenged and is often the cause of disputes.

The process of planning ahead for age, incapacity and death is referred to as estate planning. Effective estate planning ensures that the wealth and assets you have accumulated over a lifetime are transferred easily and in accordance of tax obligations to the people you choose. Careful planning with the help of estate planning lawyers will help avoid unnecessary disputes, uncertainty about how assets are to be dealt with, and assist in protecting against avoidable wastage of your estate.

The cost and inconvenience of preparing an estate plan is negligible compared to the time, cost and disruption that can be caused if adequate arrangements have not been made prior to death.

Making proper arrangements, such as with funeral expenses and burial placement can also help to alleviate some of the stress loved ones may experience during a time that is naturally difficult and stressful.