Five reasons to write a Will

Five reasons to write a Will

Those who don’t have a valid Will are overlooking a significant opportunity to plan for their family’s future. Writing a Will can help when distributing assets upon death, choosing executors, setting out funeral arrangements and even appointing guardians for infant children.

While many Australians already have a Will, a number of those have a Will that does not reflect their current circumstances.

Having a Will is not only important to those who are wealthy or old; a Will is an important document for individuals to have at every stage of life. Here are five reasons why:

  • Beneficiaries
    You must have a Will to legally choose who will benefit from or inherit your estate upon your death. When you die without a Will, legislation in the relevant state or territory will determine who benefits from your estate.
  • Care of infant children
    To legally appoint guardians for minor children you must have a Will.
  • Challenges
    You can avoid many unnecessary legal claims against your estate if you have an appropriately drafted and valid Will.
  • Costs
    The administration of your estate can be time-consuming and costly, so having an appropriately drafted and valid Will can make this process more efficient, saving time and money.
  • Family business
    Having a Will ensures that the right people are in the right positions to continue the business during the administration of your estate.

If you believe the matters discussed above are relevant to your business, please contact Darren Smith of our office to discuss further.

Darren is a Chartered Accountant with extensive experience, including working in the big 4 and medium sized firms before becoming a partner of a city based firm in 2000.

He has gained much experience and has extensive knowledge in providing business and taxation advice, superannuation planning, negotiation of sales and acquisitions of businesses and property development. His client base covers a wide range of industry groups.

Darren works with business owners to grow their businesses and create personal wealth within and outside of their business.

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