12 Easy Steps to Writing A Valid Will in Australia
12 Easy Steps to Writing A Valid Will in Australia
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Reflect with Purpose:
- Consider assets, relationships, and potential beneficiaries.
- Create a clear mental and documented inventory.
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Gather Materials:
- Ensure good lighting, steady surface, quality pens.
- Have two unrelated adult witnesses for signing.
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Choose Executors Wisely:
- Select trustworthy individuals with sound judgement.
- Consider proximity and conflict resolution skills.
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Outline Beneficiaries Clearly:
- Clearly designate beneficiaries for each asset.
- Update as dependents enter or leave your life.
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Make Intentional Bequests:
- Clearly communicate specific gifts to chosen beneficiaries.
- Minimise ambiguity to prevent disputes.
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Residuary Estate Instructions:
- Appoint primary and backup beneficiaries for unspecified assets.
- Prevent unintentional oversights in asset distribution.
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Signing & Witnessing Legally:
- Have two adult witnesses for legal validity.
- Follow formal procedures to avoid contestation.
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Attach Supplementary Pages:
- Include additional topics as loose attachments.
- Cover funeral preferences, organ donation, or digital assets.
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Store Originals Safely:
- Keep finalised originals in secure locations.
- Inform trusted loved ones of the storage location.
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Updating Your Will:
- Review after major life changes.
- Full reviews every 2-3 years as a standard practice.
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Property Ownership Matters:
- Clarify co-ownership status for homes.
- Understand the distinction between joint tenants and tenants in common.
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Intestacy Avoidance:
- Avoid leaving wishes unclear to prevent State formulas.
- Regularly review and update to reflect changes.
In Closing: Crafting your legacy should be thoughtful and empowering. For queries or guidance, contact us at (02) 9954 6655. Let's simplify the process of writing your Will.