WHAT IF I DON’T HAVE A WILL?

Do you know what your loved ones would be facing if you passed away without an adequate Will in place?
Not having a Will in place, or leaving one that has become invalid (for example through marriage or divorce), can cause much stress and cost for loved ones at a time when they are already dealing with loss.

Did you know?

• If someone passes away without a valid Will in place, the law specifies who is entitled to receive their property.
• Where someone has children, a spouse is not automatically entitled to receive all estate assets upon death without a Will. There are often situations where surviving spouses have to take out loans, sell or restructure assets in order to pay out what their late spouse’s children are entitled to. This can be a financial disaster for many people.
• Separation from a partner alone does not invalidate a Will.
• Some assets such as superannuation, some jointly held assets and assets held in trusts are not covered by a Will and further steps may be required in relation to these assets.
• A Will can appoint testamentary guardians for your infant children and set up their inheritance in trust for the future.

See our Estate Planning [link wording to estate planning page] section for more information.