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You shouldn’t be afraid of the process that will provide you with piece of mind should you pass away.
In plain English, a will dictates what you want to happen to your assets after you die. It is possible to make changes to it from time to time and it is a good idea to review and update it when there are major changes to your personal or family circumstances – such as a property purchase.
If you don’t leave a will, the Administration Act specifies how your estate is distributed – and this may not be in line with your wishes.
There are three simple things to think about to start the process.
Firstly, decide on a personal representative to administer your estate when you die; second, choose who is to receive what pursuant to your will; thirdly, and where appropriate, who will you appoint as guardian of your minor children?
Having the answers to these questions when you sit down with your lawyer will assist with the process of ensuring your wishes after you die are recorded and are in good hands.
We recommend you seek specialist and legal advice when preparing your will.