Estate intrigues: busting 5 common myths about wills

Will planning is a difficult task but it’s one that simply has to be done. The last thing you want is to leave behind an estate without any direction of where it is going – this is how serious problems begin!

Instead, it’s important to enlist the best estate lawyers Canberra has to assist you with your last instructions as well as clear up any complexities that are impeding on the process.

These complexities could be as intricate as important legal jargon or as minor as the following myths which we are are here to bust for you:

  • Do I need a will if I don’t own many assets?

Will making isn’t reserved for the Monty Burns’s of the world – you can write a will regardless of how many assets you own. It really doesn’t matter if you don’t have a plethora of holdings, as long as you have a mortgage, super, even a bank account, it’s important to instruct access to such things for when you pass away.  

The will is the easiest and most time-efficient way to save a big headache for your loved ones once you’ve passed away – make it easy for them so they have one less stress in such a difficult time!

  • Do I need to appoint a guardian for my underage kids even if everyone knows who should look after them?

Yes, you do. Because even if everybody knows who you would have to look after your underage children, it doesn’t mean a different family member might want to secure custody of them. Your will is your way of telling the world exactly who you want caring for your children even if you have already stipulated verbally who should be taking care of them.

  • I don’t need to enlist any help to plan my will

Everyone can write a will – that’s for sure. But to ensure that every stipulation goes exactly as planned in the eyes of the law, it is never a bad idea to enlist the assistance of the estate lawyers Canberra has available to ensure that any legal complexities are cleared up before you finalise the instructions.

  • Wills are incredibly expensive, right?

It depends on where you go. Many lawyers will assist you in writing the perfect will for as little as $400 whilst some places will cost up to $3,000. Regardless, it’s important to remember that this service will reduce a lot of the burden placed on your loved ones in the event of your passing, and is therefore a valuable service to complete with a trusted estate lawyer.

  • I don’t need to keep my will secure

You certainly do need to keep your will secure! The last thing you want is to lose your final instructions or, worse, have them end up in the wrong hands – this could be disastrous for the people whom you are granting the instructions. It is therefore pivotal that you keep it in a safe and secure location, somewhere that is locked up in a disaster-safe box.

If not this, you can also inquire about keeping your last instructions at your attorney’s office for easy access in the event of your passing.

So, we hope this has cleared up any confusion for you regarding your will. Of course, trusted attorneys can provide further assistance on how to negotiate this sometimes tricky part of life, ensuring that you create the best outcomes for your loved ones.

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