To prepare yourself for the inevitable, you must create a will and include all of the key elements you want to be handled when you pass away. If you are going to be leaving behind a lot of your possessions, it is important to draw up a will, so everyone knows how to honour your last wish. Not having a will can be a huge headache for your family and friends. To avoid any issues, draw up a will and remember to include these key elements.
Personal Assets – Any expert will dispute lawyer in Parramatta will tell you that when it comes to dividing up the assets of a deceased person, having a will that clearly states the beneficiaries makes things so much easier. Will dispute lawyers are called upon every day to settle disputes over all kinds of things, the main reason they are needed is because the deceased did not leave a clear and concise will. All your personal assets should be included in the will, from cars to furniture to jewellery.
Real Estate – Real estate refers to property and land. If you do not want any of your family or friends arguing over your assets when you are gone, make sure to leave a will. If you have any land, house, apartments, or other interests that fall under real estate, make sure they are clearly listed on the will beside the beneficiary’s name.
Executor – You can choose anyone to be your executor, so look for someone who is competent enough to handle the task and understands their duty. This can be a close personal friend or family member; some people use a lawyer to carry out their last requests and divide up their assets.
Charitable Gesture – Another thing you can do in your will which is entirely optional is to cancel all debts owed to you. You may think that your debts die with you but this is not the case in some circumstances. If the debts are not massive, you should think about cancelling the ones the living owe you as a sign of compassion.
There you have it, a few important things you should consider when drawing up your will. It is important to carefully draw up a will as it eliminates any family issues when you pass. Nobody will be fighting over land or property when you nominate an executor and draw up a will. All your possessions will go where you intended.