Drafting a will is an important obligation, as it guarantees your loved ones are looked after when you’re gone. Many don’t know that they can draw up a valid will on their own without legal help. If the intricacies of legal terminology make you apprehensive or you’d like to save on lawyer fees, have no distress.
This guide provides you with all the necessary information on how to create a valid will without the help of an attorney in Australia. We will show you each step of the process from understanding the essential elements of a sound will to making sure you meet your state’s legal requirements. Doing so allows you to make sure your final wishes are honoured and passed on to family and beneficiaries. By comprehending how to craft a legitimate will, you can secure that your estate is protected for years ahead. So, let’s embark on this beneficial journey together.
What is a Legal Will?
A will is a legal statement outlining how you wish your assets and personal belongings to be divided upon your death. To ensure its legal validity, it must be signed and observed by two unrelated people.
If you fail to make a will, your estate will be dispersed as per the laws of intestacy. This might not match up with what you wanted. For instance, unmarried or uncivil-partnered individuals cannot expect their partner to acquire anything from them through inheritance.
It is imperative to have a will if you have children under your care; it permits you to designate guardians for them in the instance of your passing.
Creating a will by yourself is possible, yet for optimal validity and accuracy it is best to seek legal counsel. Doing so will ensure that your wishes are correctly expressed.
Requirements to Create Legally Binding Wills in Australia
To make a legally binding will in Australia, you must:
- You must be at least 18 years old.
- Be mentally and physically sound; recall what needs to be remembered.
- Drafting your will is an essential task, so take the time to do it in written form. It is crucial that you express your wishes legally and accurately and this can only be accomplished with a written will.
- You have the option of creating your own will or having someone else do it for you, as long as it is signed and affirmed by two witnesses who are not related to you.
- Once your will is complete, make sure you store it securely in a place where its location can be easily identified by your designated executor. Remember to inform the executor of this.
Who Needs to Make a Will?
Many people mistakenly believe that they do not need to create a will since their possessions are few. However, it is important for everyone to have a will, regardless of the amount of wealth they possess. Doing so guarantees your kin are provided for and your final orders are honored.
If you don’t have a will, the laws of intestacy in your state or territory will decide how your estate is divided. This may not be in accordance with your wishes, and the distribution process could be time-consuming and expensive for those left behind.
Creating a legally binding will does not have to be complex or costly. It can be done online, with no need for an attorney. Follow the directions on the website and make sure to provide all relevant information regarding your possessions and who they are going to.
Steps for Making & Drafting Your Own Will without Legal Assistance
Choose an executor for your will. This person will have the crucial task of carrying out your wishes after you pass away, such as distributing assets, settling debts, and seeing to it that your instructions are followed.
Designating your beneficiaries is essential. You can select your spouse, children, grandchildren, other relatives, friends or charities to receive the assets you leave behind after you pass away. This is an important step in estate planning.
Opting for a certain kind of will is a decision to be made. In Australia, there are two main types: a simple will and a complex one. A simple will is an uncomplicated document that lists the beneficiaries of your possessions as well as who will be appointed as executor. On the other hand, if more comprehensive instructions need to be included, then a complex will be necessary. It can provide instruction on things such as trusts, guardianships and particular gifts.
Write your will. When you write your will, be sure to include the following information:
- Your name and date of birth are essential pieces of information
- You need to provide us with your full address
- What is your relationship status?
- Your beneficiaries are the people who will get access to your assets upon your death.
- Your executor
- Any specific gifts you want to make
- Any other instructions you have for your executor
- Sign your will with the presence of two adults who are not beneficiaries. Make sure they witness you affirming your signature.
It is important to store your will in a secure place accessible to your executor after you pass away. Ensure that the document has been signed before placing it in its place of safety.
Important Things to Include in A Will
When making a will, it is important to include the following information:
- Your name and contact details
- The names of your beneficiaries and their contact details
- A list of your assets and their approximate value
- An indication of how you would like your assets to be distributed among your beneficiaries
- A statement appointing an executor of your will
How To Make Your Will Legally Binding
For a will to be legally valid in Australia, it must adhere to the regulations of the Wills Act 1997. This necessitates that:
- The will must be in writing
- The testator must sign the will in the presence of two witnesses who are both present.
- The witnesses need to jointly sign the will in the presence of the testator.
- If you have any lingering questions pertaining to these regulations, it is recommended to seek the opinion of a lawyer prior to constructing your will.
It is essential that you ensure your will is legally binding, so that your wishes can be recognised in court. Otherwise, assets which you may have wanted to distribute to a loved one could end up going somewhere else when you pass away.
Alternatives to Making Your Own Will
In Australia you don’t need a lawyer to make your will official. An online service is the simplest way, that can be quickly located via a web search. Furthermore, many businesses specialize in this and have websites where you can gain more information.
An alternative is to get hold of a do-it-yourself will kit from most stationary stores. The packages normally include all the necessities, as well as directions on how to complete them rightly. However, it is of great importance that you adhere to these guidelines closely; otherwise, errors in your will may render it invalid.
Rather than opting for an online service or do-it-yourself kit, you may ask an acquaintance who is familiar with the law to aid you in drawing up your will. Still, it is essential that the individual conducting this task be impartial and detached while assisting you, for they cannot incorporate their own desires into the will.
If you have doubts regarding any part of creating a will, it is recommended to confer with a legal professional before continuing. This ensures that the document is legally valid, and that your desires are fulfilled upon your death.
Conclusion
Creating a legally-binding will in Australia without professional assistance is possible as long as you take the time and invest the effort required to complete it correctly. Following the key points outlined above can help ensure the will is valid, but consulting with a lawyer may be advantageous if further safeguards are desired.
FAQs
1. What is a will?
A legal document that outlines the distribution of your assets after passing away.
2. What happens if I die without a will in Australia?
If you pass away without having set up a will in Australia, your assets and possessions will be divided among your relatives as per the Australian Wills Act 1992. These rules might not align with your wishes, so it is important to think about what you would like to have happen to your estate after your death.
3. What are the steps to make my will legally valid without engaging a lawyer?
You can make your will legal without a solicitor by executing it in the presence of two witnesses over 18, or getting it signed by a certified authority like a justice of the peace. An alternative option is to lodge it in a court registry.
It’s advisable to consult a lawyer before signing or submitting your will, in order to guarantee its legal validity and that it meets all relevant Australian legislation.
4. What should I include in my will?
Your will should reflect your full name and address, the details of your appointed executor (the individual responsible for ensuring your wishes are carried out) and provide a list of assets and how they should be distributed. Consider including any special requests, such as funeral arrangements or guardianship arrangements for minors.
5. Do I need to update my will if my circumstances change?
It is important to review and revise your will as your life evolves. This especially applies in the event of marriage, divorce, children, purchasing a new property or if other beneficiaries have changed their names.