When is the Best Time For Writing Wills in Canberra?

Do you have a will yet? Did you know that having a will is an essential thing that you have to do? However, you cannot just wake up one day and start writing a will. You must be very keen during this process to ensure you make the right calls. When you have a will, your assets are usually distributed according to all your wishes after you pass on. At times, the length of wills in Canberra varies depending on the individual circumstances of the people drafting them. However, the choice length does not matter, like your intentions.

 

Instances When Writing Wills is Important in Canberra

The following are instances when writing wills is essential for people in Canberra;

 

• You have very complex family issues

One of the primary instances when one has to leave a will is to ensure that they prevent their complex family issues from interrupting the distribution of their assets. Some families have stepchildren, ex-spouses and other intricate family dynamics. In such a situation, you are always assured that your assets will only be pretty distributed when you have a will. Therefore, you have to ensure that you have a will to clarify how the assets need to be shared.

 

• One owns multiple properties and assets.

Another instance when wills are crucial is when one owns many properties and assets. Unfortunately, there are family members who invest without telling their loved ones. This means that upon passing, it can be impossible for these family members to know about other investments one had. However, when you have a will, you get to let them know of all your properties, no matter how many they are. Additionally, you can leave them with instructions on how you wish the properties and assets to be distributed.

 

• One has specific bequests

Some people have specific items or heirlooms that are usually very dear to them, and they want to pass them on to the next generation. If you own such bequests, you ought to have a will where you detail the individuals you want to give them to, preventing confusion when you pass them on.

 

• One plan to make charitable contributions

Whether you want to set up a charitable trust or make charitable donations, you must mention it in the will. If you’re going to do this without saying your philanthropic intentions, then your wishes will not be fulfilled. Therefore, choices are crucial for people who want to make charitable contributions from part of their wealth when they pass on.

 

• Choose guardianship for minor kids.

If minor kids are involved, wills are always essential in ensuring that you choose the responsible person to take care of these kids. This also ensures these kids get their share of childcare from your assets.

 

• One has debts and liabilities.

For those who have debts, it is essential to have wills so that you can leave instructions on how these debts should be cleared. For instance, you can mention that the debts can be removed from certain assets or by selling some of your properties.

 

• One has unique funeral and burial wishes.

When one passes, the family does all they can to ensure that they provide a decent burial. However, at times, the proper burial the family offers may not be what one had wished for. To avoid this, people wrote wills to let their loved ones know their specific wishes for their funeral and burial arrangements.

 

When writing your wills, knowing that having will lawyers is crucial is essential. Therefore, ensure that you contact the wills and estate lawyers at Balance Family Law and involve them when you are ready to plan for your estate’s future.