Many people query if they really need a Will, particularly if they are young or feel they have “nothing to leave”. However, people often own more than they realise. For example, most employees will have life insurance which is of some significant value, taken out by the superannuation fund to which compulsory contributions are made by all employers. Without a will, a person’s estate will be divided in accordance with legislative guidelines, which vary from State to State. In some circumstances this can result in hardship for any surviving spouse and children. In the case of a person in a second marriage, a will is the only way of ensuring that any children of the first marriage and surviving spouse are fairly dealt with.
Wills are not “one size fits all” and it is important to give careful consideration to a range of different matters. The first consideration is determining what is likely to form part of your estate (read more). The next consideration is deciding who you wish to receive the benefit of your estate (read more). It may also be appropriate for a testamentary trust to be considered (read more), together with a Statement of Wishes (read more).
Our Complete Wills Service
Considering the terms of your will can be an uncomfortable process, but one which is necessary to ensure the financial wellbeing of loved ones. Having a properly prepared will provides great peace of mind. FBCN members help you to make sure you have considered all relevant issues and that your will ties in with all other aspects of your personal and business affairs.
Read more about what we offer, or contact us for an obligation-free conversation.