Phone: 0414 644 654 | Email: michelle@hawkesburylegal.com.au
Making a Will in NSW
Making a will is the only way to ensure your wishes are fulfilled, and loved ones are cared for when you are gone. Although when making a will in NSW, it is possible to do so using a will kit, it is highly inadvisable as most people do not have the required understanding of Succession Law and therefore do not understand the importance of their circumstances.
Last Will and Testament — Defined
A will is a legal document that outlines instructions relating to the care of your children and the distribution of your estate, property, and other assets when you pass. Not just this, but a will details specifically who will receive your property (including bank balances) and exactly how much each individual or entity will receive. A will also names an executor who is responsible for administering your estate when you pass.
When making a will in NSW you can also leave some of your assets to an entity such as a charity or organisation.
Estate Planning
Estate planning is a term used to describe a collection of documents relating to:
- how your property will be dispersed upon your passing and,
- how you want your health and finances to be looked after when you can no longer make your own decisions.
Whilst a will is a single document that outlines details regarding the distribution of your property after you pass, estate planning involves multiple documents (including the last will and testament) and the following:
- Trusts
- Advance Care Directive
- Enduring Powers of Attorney
- Enduring Guardianship
- Superannuation Nominations
- Insurance Nominations
- Letter of Intent
- Testamentary Trust
Importance of Estate Planning and Making a Will
Undertaking estate planning ensures that all your wishes are granted regarding the distribution of your estate.
If you pass without undertaking estate planning, your property and other assets will be distributed in accordance with the succession laws of your state. Furthermore, If you are a single parent or if both parents pass, the court will appoint the legal guardian of minor children without knowing who the parent/parents would want to appoint. Without a power of attorney or enduring guardian clearly stated before you lose capacity, a public tribunal will appoint a financial manager and someone to be your guardian to make personal or lifestyle decisions for you if required.
It is, thereby, evident that it is essential for you to undertake estate planning and establish a will whilst you have the capacity to do so.
Why Hawkesbury Legal
When making a will in NSW, it is best to have it written by an expert to prevent it from being challenged for being incomplete or inaccurate later on.
By acquiring the help of a professional when undertaking estate planning or establishing a will, you can be sure that all the relevant details are included, and the information is written to your exact specifications. Having your will written by a professional also ensures asset protection and reduces the likelihood of family provision claims being made.
At Hawkesbury Legal, I undertake estate planning and will writing for both individuals and couples. So you can rest assured that if you are seeking professional help in estate planning or making a will in NSW, you have come to the right place.