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{"id":6204,"date":"2023-04-06T06:04:45","date_gmt":"2023-04-06T06:04:45","guid":{"rendered":"zahr.com.au\/?p=6204"},"modified":"2023-06-01T06:10:21","modified_gmt":"2023-06-01T06:10:21","slug":"why-you-need-a-will","status":"publish","type":"post","link":"https:\/\/zahrpartners.com.au\/zahr\/why-you-need-a-will\/","title":{"rendered":"6 reasons you need a will"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"6204\" class=\"elementor elementor-6204\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-47ffb8a6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"47ffb8a6\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-799fe850\" data-id=\"799fe850\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4d5433d3 elementor-widget elementor-widget-text-editor\" data-id=\"4d5433d3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.2 - 11-05-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p style=\"margin-top: 1em; margin-bottom: 0.5em; max-width: 832px; color: #00081b; font-family: Avenir, sans-serif;\">While estate planning may be daunting to think about, creating a will is an essential step in ensuring that that your wishes are respected, and that your loved ones are taken care of.<\/p>\n<h4 style=\"font-family: 'Fivo Sans', sans-serif; margin-top: 2em; margin-bottom: 0.6em; font-size: 31px; color: #00081b;\">What is a will?<\/h4>\n<p style=\"margin-top: 1em; margin-bottom: 0.5em; max-width: 832px; color: #00081b; font-family: Avenir, sans-serif;\">A will is a legal document that outlines your wishes for your estate after you pass away. In New South Wales, wills are governed by the Succession Act 2006 (<a style=\"cursor: pointer; color: #a9b236; transition-duration: 400ms; transition-timing-function: ease; transition-property: color; display: inline-flex; -webkit-box-align: center; align-items: center; font-weight: 600; position: relative; margin: 0px; min-width: 0px;\" href=\"https:\/\/legislation.nsw.gov.au\/view\/html\/inforce\/current\/act-2006-080\" target=\"_blank\" rel=\"noopener noreferrer\">Succession Act<\/a>).<\/p>\n<p style=\"margin-top: 1em; margin-bottom: 0.5em; max-width: 832px; color: #00081b; font-family: Avenir, sans-serif;\">In order for a\u00a0<a style=\"cursor: pointer; color: #a9b236; transition-duration: 400ms; transition-timing-function: ease; transition-property: color; display: inline-flex; -webkit-box-align: center; align-items: center; font-weight: 600; position: relative; margin: 0px; min-width: 0px;\" href=\"https:\/\/www.lawaccess.nsw.gov.au\/Pages\/representing\/after_someone_dies\/after_someone_dies.aspx#Thewill\" target=\"_blank\" rel=\"noopener noreferrer\">will<\/a>\u00a0to be valid there are specific requirements that need to be met:\u00a0<\/p>\n<ul style=\"margin-top: 0.5em; margin-bottom: 0.5em; max-width: 832px; color: #00081b; font-family: Avenir, sans-serif;\">\n<li style=\"margin-top: 0.5em; margin-bottom: 0.5em; max-width: 832px;\">You must be at least 18 years of age;<\/li>\n<li style=\"margin-top: 0.5em; margin-bottom: 0.5em; max-width: 832px;\">You must have the mental capacity to make the will, this is known as testamentary capacity.<\/li>\n<li style=\"margin-top: 0.5em; margin-bottom: 0.5em; max-width: 832px;\">The will must be in writing (whether handwritten, typed or printed);<\/li>\n<li style=\"margin-top: 0.5em; margin-bottom: 0.5em; max-width: 832px;\">The will must be signed by you (the will-maker), or by some other person in the presence of the will-maker and at the will-maker\u2019s direction;<\/li>\n<li style=\"margin-top: 0.5em; margin-bottom: 0.5em; max-width: 832px;\">Your signature must be witnessed by at least two other people and those witnesses must also sign the will. The witnesses must not be beneficiaries of the will.<\/li>\n<\/ul>\n<p style=\"margin-top: 1em; margin-bottom: 0.5em; max-width: 832px; color: #00081b; font-family: Avenir, sans-serif;\">To avoid any challenges to its validity when it goes through the\u00a0<a style=\"cursor: pointer; color: #a9b236; transition-duration: 400ms; transition-timing-function: ease; transition-property: color; display: inline-flex; -webkit-box-align: center; align-items: center; font-weight: 600; position: relative; margin: 0px; min-width: 0px;\" href=\"https:\/\/www.supremecourt.justice.nsw.gov.au\/Pages\/sco2_probate\/sco2_probate.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">probate<\/a>\u00a0process it is important to ensure that your will meets the legal requirements. One of the reasons a will can be challenged is if you are afflicted with certain medical conditions. It could be argued that you do not have testamentary capacity and therefore your will becomes invalid during the probate process.<\/p>\n<p style=\"margin-top: 1em; margin-bottom: 0.5em; max-width: 832px; color: #00081b; font-family: Avenir, sans-serif;\">Our experienced will and probate\u00a0<a style=\"cursor: pointer; color: #a9b236; transition-duration: 400ms; transition-timing-function: ease; transition-property: color; display: inline-flex; -webkit-box-align: center; align-items: center; font-weight: 600; position: relative; margin: 0px; min-width: 0px;\" href=\"https:\/\/www.zahr.com.au\/team\/hannan-zahr\" target=\"_blank\" rel=\"noopener\">lawyers<\/a>\u00a0can draft your will to ensure that it meets the legal requirements as well as your wishes and avoid some of the common pitfalls. We will be able to advise you if there any doubts about testamentary capacity or what steps can be taken to avoid your will becoming\u00a0<a style=\"cursor: pointer; color: #a9b236; transition-duration: 400ms; transition-timing-function: ease; transition-property: color; display: inline-flex; -webkit-box-align: center; align-items: center; font-weight: 600; position: relative; margin: 0px; min-width: 0px;\" href=\"https:\/\/www.supremecourt.justice.nsw.gov.au\/Pages\/sco2_probate\/Contested-proceedings.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">contested<\/a>\u00a0after your passing.<\/p>\n<h4 style=\"font-family: 'Fivo Sans', sans-serif; margin-top: 2em; margin-bottom: 0.6em; font-size: 31px; color: #00081b;\">6 reasons why you should have a valid will<\/h4>\n<p style=\"margin-top: 1em; margin-bottom: 0.5em; max-width: 832px; color: #00081b; font-family: Avenir, sans-serif;\">Regardless of your age or financial circumstances, it is always important to have a valid\u00a0<a style=\"cursor: pointer; color: #a9b236; transition-duration: 400ms; transition-timing-function: ease; transition-property: color; display: inline-flex; -webkit-box-align: center; align-items: center; font-weight: 600; position: relative; margin: 0px; min-width: 0px;\" href=\"https:\/\/www.lawaccess.nsw.gov.au\/Pages\/representing\/after_someone_dies\/the_will.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">will<\/a>\u00a0in place. Here are some of the benefits of having a valid will:<\/p>\n<ol style=\"color: #00081b; font-family: Avenir, sans-serif; font-size: 16px;\">\n<li style=\"font-size: 21px; margin-top: 0.5em; margin-bottom: 0.5em; max-width: 832px;\"><strong>Your estate is dealt with in accordance with your wishes<\/strong>.<br \/>If you die without a valid will, you are considered to have died \u201cintestate\u201d and your estate is dealt with in accordance with the\u00a0<a style=\"cursor: pointer; color: #a9b236; transition-duration: 400ms; transition-timing-function: ease; transition-property: color; display: inline-flex; -webkit-box-align: center; align-items: center; font-weight: 600; position: relative; margin: 0px; min-width: 0px;\" href=\"https:\/\/www.lawaccess.nsw.gov.au\/Pages\/representing\/after_someone_dies\/applying_for_letters_of_administration\/applying_for_letters_of_administration.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">intestacy rules<\/a>\u00a0under the Succession Act. By creating a will, you get to choose who gets your assets \u2013 and who doesn\u2019t.<\/li>\n<li style=\"font-size: 21px; margin-top: 0.5em; margin-bottom: 0.5em; max-width: 832px;\"><strong>You get to choose who manages your estate.<\/strong><br \/>When making a will, you will need to appoint an\u00a0<a style=\"cursor: pointer; color: #a9b236; transition-duration: 400ms; transition-timing-function: ease; transition-property: color; display: inline-flex; -webkit-box-align: center; align-items: center; font-weight: 600; position: relative; margin: 0px; min-width: 0px;\" href=\"https:\/\/www.nsw.gov.au\/family-and-relationships\/planning-for-end-of-life\/what-to-include-will\/nominate-an-executor\" target=\"_blank\" rel=\"noopener noreferrer\">executor<\/a>, and in some cases, a trustee. \u00a0An executor\u2019s role is to carry out the instructions in your will and legally administer the estate. A trustee administers any trusts established by the will. You can choose one person to perform both roles or choose different people for each role \u2013 it\u2019s up to you!<\/li>\n<li style=\"font-size: 21px; margin-top: 0.5em; margin-bottom: 0.5em; max-width: 832px;\"><strong>You can insert provisions for specific wishes.<\/strong><br \/>A will can be used to make provisions for specific wishes, such as gifts to friends, family and charitable donations.<\/li>\n<li style=\"font-size: 21px; margin-top: 0.5em; margin-bottom: 0.5em; max-width: 832px;\">\u00a0<strong>You minimise the likelihood of any disputes.<\/strong><br \/>Despite speaking to family members about your wishes, dying without a will leaves your family guessing about what your intentions for the distribution of your assets and the division of any inheritance. To add to that, if your family dynamics are complicated, this can cause\u00a0<a style=\"cursor: pointer; color: #a9b236; transition-duration: 400ms; transition-timing-function: ease; transition-property: color; display: inline-flex; -webkit-box-align: center; align-items: center; font-weight: 600; position: relative; margin: 0px; min-width: 0px;\" href=\"https:\/\/www.lawaccess.nsw.gov.au\/Pages\/representing\/after_someone_dies\/family_provision_claims.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">disagreements<\/a>. Having a will that sets out your instructions minimises the risk of family breakdown, saves your family time, money and stress.<\/li>\n<li style=\"font-size: 21px; margin-top: 0.5em; margin-bottom: 0.5em; max-width: 832px;\"><strong>You can appoint guardians for your children.<\/strong><br \/>If you have children under the age of 18, you can appoint a\u00a0<a style=\"cursor: pointer; color: #a9b236; transition-duration: 400ms; transition-timing-function: ease; transition-property: color; display: inline-flex; -webkit-box-align: center; align-items: center; font-weight: 600; position: relative; margin: 0px; min-width: 0px;\" href=\"https:\/\/www.nsw.gov.au\/family-and-relationships\/planning-for-end-of-life\/what-to-include-will\/select-a-childrens-guardian#:~:text=A%20testamentary%20guardian%20is%20an%20adult%20designated%20to%20be%20responsible,jointly%20with%20the%20surviving%20parent.\" target=\"_blank\" rel=\"noopener noreferrer\">guardian<\/a>\u00a0for your minor children, ensuring they are in the care of someone you trust. \u00a0\u00a0<\/li>\n<li style=\"font-size: 21px; margin-top: 0.5em; margin-bottom: 0.5em; max-width: 832px;\"><strong>You can provide instructions as to funeral arrangements.<\/strong><br \/>Many times conversations relating to\u00a0<a style=\"cursor: pointer; color: #a9b236; transition-duration: 400ms; transition-timing-function: ease; transition-property: color; display: inline-flex; -webkit-box-align: center; align-items: center; font-weight: 600; position: relative; margin: 0px; min-width: 0px;\" href=\"https:\/\/www.lawaccess.nsw.gov.au\/Pages\/representing\/after_someone_dies\/funerals\/funerals.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">burial<\/a>\u00a0and cremations are avoided. Having a will that sets out your wishes not only gives you comfort but also gives the executors some direction.<\/li>\n<\/ol>\n<h4 style=\"font-family: 'Fivo Sans', sans-serif; margin-top: 2em; margin-bottom: 0.6em; font-size: 31px; color: #00081b;\">What if I need to change something in my will?<\/h4>\n<p style=\"margin-top: 1em; margin-bottom: 0.5em; max-width: 832px; color: #00081b; font-family: Avenir, sans-serif;\">It is important to periodically review and update your will to reflect changes in your life circumstances.<\/p>\n<p style=\"margin-top: 1em; margin-bottom: 0.5em; max-width: 832px; color: #00081b; font-family: Avenir, sans-serif;\">A few examples lifestyle changes which require you to update your will include: \u00a0\u00a0<\/p>\n<ul style=\"margin-top: 0.5em; margin-bottom: 0.5em; max-width: 832px; color: #00081b; font-family: Avenir, sans-serif;\">\n<li style=\"margin-top: 0.5em; margin-bottom: 0.5em; max-width: 832px;\">If you marry, separate or divorce;<\/li>\n<li style=\"margin-top: 0.5em; margin-bottom: 0.5em; max-width: 832px;\">After the birth of each child;<\/li>\n<li style=\"margin-top: 0.5em; margin-bottom: 0.5em; max-width: 832px;\">If there is a significant change in your financial circumstances;<\/li>\n<li style=\"margin-top: 0.5em; margin-bottom: 0.5em; max-width: 832px;\">If a person named in the will has died;<\/li>\n<li style=\"margin-top: 0.5em; margin-bottom: 0.5em; max-width: 832px;\">If your wishes have changed.<\/li>\n<\/ul>\n<p style=\"margin-top: 1em; margin-bottom: 0.5em; max-width: 832px; color: #00081b; font-family: Avenir, sans-serif;\">You can\u2019t manually update an existing will, but you can add a codicil or simply replace it with a new one. Our experienced\u00a0<a style=\"cursor: pointer; color: #a9b236; transition-duration: 400ms; transition-timing-function: ease; transition-property: color; display: inline-flex; -webkit-box-align: center; align-items: center; font-weight: 600; position: relative; margin: 0px; min-width: 0px;\" href=\"https:\/\/www.zahr.com.au\/law\/wills-and-estates-law#wills-estate-planning-disputes-and-intestacy\" target=\"_blank\" rel=\"noopener noreferrer\">estate lawyers<\/a>\u00a0can assist you in drafting an updated will that aligns with your life circumstances and ensures that your wishes are known when the time comes.\u00a0<strong>\u00a0<\/strong><\/p>\n<h4 style=\"font-family: 'Fivo Sans', sans-serif; margin-top: 2em; margin-bottom: 0.6em; font-size: 31px; color: #00081b;\">Where should I keep my will?<\/h4>\n<p style=\"margin-top: 1em; margin-bottom: 0.5em; max-width: 832px; color: #00081b; font-family: Avenir, sans-serif;\">Your original will is an important legal document and must be kept in a safe and secure place. You can choose to store your original will at home, however you should make sure that it is stored in a safe place. It&#8217;s important that it doesn&#8217;t become damaged or deteriorated over time or has the potential to be misplaced.<\/p>\n<p style=\"margin-top: 1em; margin-bottom: 0.5em; max-width: 832px; color: #00081b; font-family: Avenir, sans-serif;\">You can also choose to store your original will in a safe deposit box at your bank, safe custody at your Solicitor\u2019s office or with the\u00a0<a style=\"cursor: pointer; color: #a9b236; transition-duration: 400ms; transition-timing-function: ease; transition-property: color; display: inline-flex; -webkit-box-align: center; align-items: center; font-weight: 600; position: relative; margin: 0px; min-width: 0px;\" href=\"https:\/\/www.tag.nsw.gov.au\/wills\/make-will\/will-and-document-storage\" target=\"_blank\" rel=\"noopener noreferrer\">NSW Trustee and Guardian<\/a>.<\/p>\n<p style=\"margin-top: 1em; margin-bottom: 0.5em; max-width: 832px; color: #00081b; font-family: Avenir, sans-serif;\">Your original will should also be accessible to your Executor when you pass away. We recommend that you give a copy to your Executor in a sealed envelope and once you have chosen a location, advise your Executor where the original document is stored.<\/p>\n<h4 style=\"font-family: 'Fivo Sans', sans-serif; margin-top: 2em; margin-bottom: 0.6em; font-size: 31px; color: #00081b;\">Start creating your will today<\/h4>\n<p style=\"margin-top: 1em; margin-bottom: 0.5em; max-width: 832px; color: #00081b; font-family: Avenir, sans-serif;\">Creating a will is an essential part of\u00a0<a style=\"cursor: pointer; color: #a9b236; transition-duration: 400ms; transition-timing-function: ease; transition-property: color; display: inline-flex; -webkit-box-align: center; align-items: center; font-weight: 600; position: relative; margin: 0px; min-width: 0px;\" href=\"https:\/\/www.zahr.com.au\/\" target=\"_blank\" rel=\"noopener\">estate planning<\/a>. A will helps protect your estate and provides comfort and clarity to your loved ones after you pass away. It is important to ensure that your will is legally valid and that it is kept up to date.\u00a0 Our experienced estate planning lawyers can step you through the process and help you craft a will that is carefully considered and accurately represents your wishes.<\/p>\n<p style=\"margin-top: 1em; margin-bottom: 0.5em; max-width: 832px; color: #00081b; font-family: Avenir, sans-serif;\">Don\u2019t leave your loved ones with the burden of sorting out your affairs without clear guidance.\u00a0<a style=\"cursor: pointer; color: #a9b236; transition-duration: 400ms; transition-timing-function: ease; transition-property: color; display: inline-flex; -webkit-box-align: center; align-items: center; font-weight: 600; position: relative; margin: 0px; min-width: 0px;\" href=\"https:\/\/www.zahr.com.au\/contact\" target=\"_blank\" rel=\"noopener\">Get in touch<\/a>\u00a0with us today to get help writing your legal will.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>From 1 July 2023 it will be easier to access the Home Guarantee Scheme with friends and family now able to join applications<\/p>\n","protected":false},"author":2,"featured_media":6206,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"featured_image_src_large":["https:\/\/zahrpartners.com.au\/zahr\/wp-content\/uploads\/2023\/04\/eInsight-6-reasons-you-need-a-will-1024x385.jpg",1024,385,true],"author_info":{"display_name":"Tiani Rubal","author_link":"https:\/\/zahrpartners.com.au\/zahr\/author\/tiani\/"},"comment_info":0,"category_info":[{"term_id":1,"name":"Uncategorized","slug":"uncategorized","term_group":0,"term_taxonomy_id":1,"taxonomy":"category","description":"","parent":0,"count":43,"filter":"raw","cat_ID":1,"category_count":43,"category_description":"","cat_name":"Uncategorized","category_nicename":"uncategorized","category_parent":0}],"tag_info":false,"taxonomy_info":{"category":[{"value":1,"label":"Uncategorized"}]},"_links":{"self":[{"href":"https:\/\/zahrpartners.com.au\/zahr\/wp-json\/wp\/v2\/posts\/6204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/zahrpartners.com.au\/zahr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zahrpartners.com.au\/zahr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zahrpartners.com.au\/zahr\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/zahrpartners.com.au\/zahr\/wp-json\/wp\/v2\/comments?post=6204"}],"version-history":[{"count":7,"href":"https:\/\/zahrpartners.com.au\/zahr\/wp-json\/wp\/v2\/posts\/6204\/revisions"}],"predecessor-version":[{"id":6212,"href":"https:\/\/zahrpartners.com.au\/zahr\/wp-json\/wp\/v2\/posts\/6204\/revisions\/6212"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zahrpartners.com.au\/zahr\/wp-json\/wp\/v2\/media\/6206"}],"wp:attachment":[{"href":"https:\/\/zahrpartners.com.au\/zahr\/wp-json\/wp\/v2\/media?parent=6204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zahrpartners.com.au\/zahr\/wp-json\/wp\/v2\/categories?post=6204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zahrpartners.com.au\/zahr\/wp-json\/wp\/v2\/tags?post=6204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}