360Private

Wed18Jan2017

Excuses, Excuses !

Written by The Legal Team

Estate Planning Wills

When you pass away, the only way to ensure you have a final say over your assets, your final resting place and your legacy is to make a Will.


It is common that many people do not complete their Will until later in life – below are some of the excuses as to why people leave it so long!

I’m too busy

Life can be incredibly busy. Neglecting your Will may not impact you, but could potentially impact your loved ones.  Don’t over think it! Speak to us and we can ensure a quick and smooth process.

Everything owned jointly will just go to my spouse anyway

Sort of!  There may be some additional assets you still own in your own name such as a bank account or Superannuation.  If you pass away without a Will in South Australia, your spouse is entitled to the first $100,000 and 50% of the balance of your estate thereafter if you have children, whilst the remaining 50% gets split between your children.

What happens if you both pass away together!

I don’t have anything of value so it’s not worth it

You may be surprised that you probably own more than you realise!  Your house, car, bank account, superannuation and insurance are just some of the assets your that may be dealt with under your Will.

Many people do not factor their superannuation savings or life insurance into their Will. Even if you own very little, someone will receive it when you pass away.

And while a Will does not prevent family members disputing the distribution of an estate, it will ensure your wishes are clearly recorded.

I’m young and healthy, I’ll think about it in 20 years

Life is unpredictable and accidents can happen. The best thing you can do for your loved ones is be prepared. The benefit of addressing your Will as early as possible is the  well-rounded advice you can receive on other related matters.

We can't decide on a guardian for the kids, things are about to change, I'm about to: (get married, get divorced), have (another) child, move to another state, and buy a house), I can't decide whether my teenagers will need a trust...

What every your excuse may be, Think of your Will as peace of mind for you and security for your loved ones.

Just do it! 

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