Why do you need a legal will?
Every adult should have a will. A will sets out what you want to happen to your estate after you die. Your estate encompasses everything you own and any outstanding debts. Choosing to leave something to a person in your will makes them a beneficiary of your estate.
If you die without a will, the law determines how your assets will be divided and what your dependents will receive. What the law decides may not be what you want, or what you expect to happen. For more information on what happens if you die without a will, please click here.
Updating Your Will
As your circumstances change, so should your will. It's a good idea to revisit your will after any major life event. If you're getting married, buying property, having a child, starting a business, or preparing for divorce, it's a good idea to make sure your will still reflects your current wishes and circumstances.
To ensure your final wishes are carried out as set ou tin your will, you need an executor. In addition, the person you choose may also need to act as a trustee. This means they'll be given responsibility for administering your estate until it can be divided among your beneficiaries.
The same person can be an executor and a trustee, or you may want to share the responsibilities among a few people. Whatever you decide, it needs to be clearly set out in your will, and the person or people you choose should be made aware of their responsibilities.
You can choose a family member or friend to be an executor or trustee, or you can ask Godfreys Law to help administer your estate. If you have a large or complicated estate, we recommend appointing one of our friendly, professional lawyers, as it may be too time consuming and complex of a task for a friend or family member to complete.
Get it done right with our expert will lawyers
It's important that your will is done correctly, as otherwise, it may be regarded as invalid.
When preparing a will, we can also look at other options that might suit your circumstances. This may include protecting property for children or people with special needs, or structuring your assets to help avoid claims from difficult family members and creditors.