The Basics of a Will: What You Need to Consider

Planning for the future is one of the most responsible decisions you can make. A will is a legal document that ensures your wishes are carried out after your passing, giving you peace of mind and protecting your loved ones. Here’s what you need to know about creating a will and what to consider when drafting one.

Why Do You Need a Will?

A will allows you to:

• Decide how your assets will be distributed

• Appoint guardians for your children

• Specify your funeral and burial preferences

• Minimise disputes among family members

• Reduce potential legal complications for your beneficiaries

Without a valid will, your estate may be distributed according to state laws, which may not align with your wishes.

Key Elements of a Will

1. Executor of Your Will

   • Choose a trustworthy individual or professional to manage your estate and ensure your wishes are followed.

2. Beneficiaries

   • Specify who will receive your assets, whether they are family members, friends, or charities.

3. Guardianship of Minors

   • If you have children under 18, appoint a guardian to care for them in the event of your passing.

4. Assets and Distribution

   • List major assets such as property, investments, savings, and personal belongings. Clearly outline who will inherit what.

5. Debts and Liabilities

   • Consider how outstanding debts, mortgages, or loans will be handled within your estate.

6. Funeral and Burial Wishes

   • Include any preferences for your funeral arrangements to guide your family during a difficult time.

Common Mistakes to Avoid

• Not Updating Your Will: Life changes, such as marriage, divorce, or the birth of children, may require updates to your will.

• Failing to Appoint an Executor: Without an executor, your estate may face unnecessary delays and complications.

• Not Making It Legally Valid: Wills must meet certain legal requirements to be enforceable. Seeking legal advice can ensure validity.

How to Get Started

Creating a will doesn’t have to be complicated. You can start by:

1. Listing your assets and considering how you want them distributed.

2. Choosing an executor and guardians if necessary.

3. Consulting with a legal professional to draft a legally sound document.

At Bellman Legal, we specialise in estate planning and can guide you through the process of creating a legally binding will that reflects your wishes.

Contact us today to secure your future and protect your loved ones.