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If you’re about to write your Will, there are several things to consider that you may not have contemplated. Now is the time to think long-term and examine your life, family, and assets carefully. After all, your Will is your legally enforceable instructions on how to handle your estate at the time of your death. To make sure that you will accurately reflect how you want to distribute your assets, it’s best to seek legal advice– and to keep the following in mind.
Guardianship of your children
Many people write their first Will after the birth of a child. By doing this, you’re recording your wishes for your children’s future if you and your partner are no longer around. One of the things you can do in your Will is to nominate another person to take care of your children in your absence. You can choose specifics such as where you want your children to live, what type of education they should receive, whom they should see, and more.
Your Will is the place to list your assets and decide how you want them to be distributed at the time of your death. Will solicitors in Darwin can help ensure that you do this in a legally enforceable way. If you own significant assets such as superannuation, shares, property, home, or vehicle, you’ll first need to determine whether you own the asset with another person or independently. If you jointly own real estate with someone else, for example, that person will automatically acquire the property when you die. Also, make sure you know where the title for your house is – missing titles are time-consuming and expensive to replace.
Your Will gives you a way to distribute your assets the way you want to, but also the smaller items of sentimental significance. You may have specific articles that do not have significant monetary value but are nonetheless important – for example, jewellery or family heirlooms. Ask your Will lawyer in Darwin for advice on how to work these sentimental items into your Will.
Appointing an executor
You will need to choose an executor – someone who will carry out your wishes and manage your estate when you die. This decision is not one to take lightly. If you nominate a family member, they may feel honoured, but they must have the time and know-how to handle the job. In general, it’s adviseable to appoint someone who is a named beneficiary; they have a personal interest in the estate and will naturally be more invested and attentive.
Where to get legal advice on wills in Darwin
When it comes to Wills, legal services in Darwin are easy to find. Just contact Gabrielle Martin Legal. The factors above are only a few of the important ones. Other options to consider include your beneficiaries, giving to charities, funeral instructions, and more. Gabrielle Martin is a lawyer providing advice on wills and personal legal services. If you are looking for solicitors to help create your will or assist you with a legal problem involving will and estate law, contact Gabrielle Martin today.