Solicitors in Ipswich and Springfield

A will is a legal document that outlines a person’s wishes regarding the distribution of their property and assets after death. It can also specify the care of any minor children if applicable.

For a will to be legally binding, it usually needs to be written and signed by the person making the will (known as the testator) and witnessed by two or more individuals.

What Information Does a Typical Will Include?

In discussing the will importance, you must also know what information it typically includes. Among these are:

Identification of the Testator: The person making the will should be identified.

Appointment of an Executor: The executor is the person who will be responsible for carrying out the wishes of the testator as outlined in the will.

Beneficiaries: The people or entities (like charities or trusts) receiving the testator’s assets.

Distribution of Assets: Specific instructions on how the testator’s assets should be divided among the beneficiaries. Support can include real estate, personal property, bank accounts, investments, etc.

Guardianship: If the testator has minor children, the will can specify who should assume custody of those children.

Signatures: The testator and the witnesses should sign and date the will.

    Wills and Estates

    What Makes a Will Valid?

    Understanding the will importance can help you and your family in the future. For it to be considered valid, it generally must meet the following criteria:

    Age: The person making the will, known as the testator, must be at least 18 years old.
    Capacity: The testator must have testamentary capacity, meaning they understand the nature and effect of creating a will, the extent of their estate, and the moral claims to which they ought to give effect.
    Intention: The will must be made voluntarily and without undue influence or pressure from another party.
    Formalities: The will must be in writing, signed by the testator or by someone else in the presence of and at the testator’s direction, and witnessed by at least two people who must sign the will in the testator’s presence. Witnesses should not be beneficiaries under the will as this may cause the gift to the witness to be invalid.
    Executor: The will should appoint one or more executors responsible for carrying out the wishes expressed in the will after the testator’s death.

    Is A Will Necessary If You Have No Assets?

    Many questions, “Do I need a will if I don’t own anything?” The answer is that while it’s not legally necessary, having a will can still be a good idea even if you don’t have substantial assets.

    Firstly, your perception of ‘owning nothing’ might differ from the legal definition of assets. You may own more than you think – personal belongings like furniture, jewellery, vehicles, digital assets, or even family heirlooms can all be considered assets.

    Secondly, a will isn’t just about property or money. If you have children under 18, your will is the document where you name their legal guardian in the event of your death.

    Lastly, circumstances can change, and you may acquire assets in the future. You might inherit money or property, receive a financial settlement, or your investments might increase in value. Having a will ensures these potential assets will be distributed according to your wishes.

    So, is a will necessary if you have no assets? Not necessarily, but it’s often a good idea to have one to cover unforeseen circumstances and to provide instructions regarding your children’s care if applicable.

    Who Gets Your Stuff If You Don’t Have A Will?

    If a person dies without a will in Queensland, Australia, they are said to have died “intestate.” In such cases, the distribution of their assets is governed by a set of legal rules known as the laws of intestacy. Here’s a general overview of who gets what under these rules:

    Spouse: If the deceased is survived by a spouse (including a de facto partner), the spouse is entitled to the entire estate if there are no children from another relationship.
    Spouse and Children: If the deceased is survived by a spouse and children from the relationship with that spouse, the spouse again gets the entire estate.
    Children, No Spouse: If there’s no spouse but there are children, the estate is divided equally among the children.
    Parents, No Spouse or Children: If there’s no spouse or children, the deceased’s parents inherit the estate. If only one parent is alive, they get the whole estate.
    Siblings, No Spouse, Children, or Parents: If the deceased has no spouse, children, or surviving parents, the estate is split equally among their siblings.
    Extended Family: If there are no closer relatives, the estate could go to nieces and nephews, grandparents, uncles and aunts, or cousins.
    No Relatives: The entire estate goes to the State of Queensland if no relatives can be found.

    When should I make a Will?

    You should make a Will when:

    •  You turn 18
    •  You purchase or sell property
    •  You get married, divorced or leave or enter a defacto relationship
    •  Your family changes, for example if you start a family or your family grows

    Getting started

    We offer fixed fee Wills and our experienced team can guide you through the process, reducing stress and providing you with peace of mind.

    Get started by contacting us to make an appointment, or by providing your details using our online Will process.

    If you choose to get started using our online Will process, we will collect your information and a member of our Wills and Estates team will be in contact with you within 3 business days.

    How can we help you?

    Multi-Discipline Law Firm

    Walker Pender caters to a full range of legal needs. Our lawyers are specialists in their specific practice areas, meaning we are able to guide you through multiple aspects of your legal journey.

    Lawyers That Have Time For You

    You want an answer, and you want an answer now. Walker Pender is committed to delivering our services within short timeframes that fit the needs of our clients.

    Cost-Efficient Service

    You want a job done efficiently and within budget. We offer our clients a range of pricing options to suit their needs and provide transparency around legal costs.

    Supporting Local

    We are proud of our long-standing ties to the community and support many local events and causes through sponsorship and pro bono legal services. By supporting us, you are supporting your local community.

    Multi-Discipline Law Firm

    Lawyers That Have Time For You

    Cost-Efficient Service

    Supporting Local

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