Wills

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The Importance Of A Legally Valid Will

A legally valid will in NSW requires:
To be in writing and contain multiple correctly worded clauses.
When the will-maker (known as the testator) signs the will, it must have two witnesses and they have to sign it as witnesses at the time the will-maker signs it. The will-maker and the witnesses must sign at the bottom of every page of the will.
The witnesses to the will should not be beneficiaires under the will. This can create legal issues if the will is contested.
When signing the will, the witnesses and the will-maker should all use the same pen to avoid accusations of will-tampering.

In attempt to save costs or at unfortunate critical times in life, many people try make a homemade will or use a DIY will kit. These approaches lack the legal expertise and care required for wills and present a high risk of the will not being legally valid. This can cause significant stress and legal turmoil for the will-maker’s loved ones when they try to enforce the will once the will-maker has passed.

Engaging our expert team ensures you avoid these issues, that your will contains everything important to you and is legally valid.

How Often Should A Will Be Updated?

It is recommended you perform a general review your will every 3 years to ensure it still reflects your wishes and current life circumstances.

It is also recommended you review your will whenever a major life event occurs, including but not limited to:
A new marriage
Divorce
Acquiring inheritance
Acquiring an asset of significant value such as real estate
Changes in ownership structure of real estate or other assets
If a beneficiary or executor pass away
A new child or grandchild come into the family
Relocating interstate or overseas

What Happens If You Pass Away Without a Will?

Without a will, your assets may be distributed in accordance with the relevant state’s laws. This may not align with your wishes and is why it is important to have a valid will in place.