We have had clients tell us that they have never had a will before as they did not think that they needed one because they were too young and besides who wants to tempt fate?
It’s true that the process of drafting a valid will may cause you to think about your mortality and therefore make the experience less than comfortable, however, this slight discomfort that you might experience now is nothing compared to how uncomfortable your family will feel if you drop dead without one.
Why Do You Need A Will?
If you die without a valid will it will be necessary to make an application to the court and to have the court determine who should get your assets and in what proportion. The Inheritance Act (CHANGE) sets out who can make an application to the courts and it also goes into some detail as to what percentage a particular class of person should be entitled too.
As you can imagine this opens up a whole raft of issues if you left a partner and children and the delay in trying to sort out your estate will impact heavily on their lives whilst they are still grieving their loss of a loved one.
Is It Expensive To Have A Will Drawn Up By A Lawyer?
Yes and No
Having a non-complex (standard) will be drafted is relatively cheap (as little as $250.00) and will ensure our estate goes where you want it as best it can. You are assured that the will is set out in such a way as to be valid and we make sure that it has been properly signed and witnessed.
Occasionally we are asked to draft up a complex will which requires a good understanding of the applicable laws and a thorough examination of your asset structures as well as knowledge of the taxation consequences that can impact on a beneficiaries share of your estate.