By Spire Law
PLANNING for the future can be overwhelming, but when it comes to your estate, having a clear and legally sound will in place is crucial. A will is a legal document that outlines how your assets and belongings will be distributed after your death. It can provide peace of mind, ensuring that your wishes are respected and minimise potential disputes among family members.
In Queensland, without a will in place, your estate will be divided according to the Succession Act 1981, which may not align with your desires. This could lead to unnecessary delays and complications, especially if you have specific wishes for your children, pets, or charitable donations. A will allows you to appoint an executor to manage your estate, ensuring your assets are distributed as you wish.
In addition to financial assets, a will can also specify guardianship for minor children and address other important matters like funeral preferences. However, it’s important to regularly update your will to reflect any significant life changes—such as marriage, divorce, or the birth of children.
For those with more complex estates, a trust can be used to manage assets, reduce tax liabilities, or protect beneficiaries from creditors. Consulting with a lawyer specialising in wills and estates can ensure that your will is legally sound and that all your wishes are addressed appropriately.
By creating a will and making informed decisions about your estate, you can protect your loved ones and provide clarity during a difficult time.
Contact the lawyers at Spire Law to take these steps now, which can save you time, money, and unnecessary stress in the future.
Spire Law – Ph (07) 5440 4800 or visit our website spirelaw.com.au.
