Your Will is an important legal document that comes into effect upon your death and directs what you wish to happen with your property. It details:

– who you choose to be your executor when you die
– who you want to receive special gifts or heirloom items
– who you want to receive your assets
– who you want as a legal guardian for any children under 18 years

If you die without making a Will or if your Will is invalid, then you are said to have died “intestate”.

Even if you would like your assets to be distributed according to the rules of intestacy when you die, there are a number of differences between dying with a Will and without.

When a person dies intestate, a relative will need to apply to the court for “letters of administration”. Extra steps may be involved as the person will need to prove their eligibility to the court.

In NSW, under the provisions of the Succession Act your assets will be distributed according to a pre-determined formula with certain family members receiving a defined percentage of your assets.

If you are over the age of 18 years we encourage you to make a Will to properly document your wishes. If you have a Will it should be reviewed when your circumstances change and as a guide, not less than every 3-5 years.

As a client of JV Legal, we will store your Will or other important documents in our safe custody facility at no cost to you.