Starting your Wills and estate planning journey can be daunting, but it's an important step in safeguarding your children's future.
As a new parent, protecting your child's future is one of your top priorities. Have you thought about how you can ensure their well-being, no matter what life brings?
Making a Will
A Will is a legal document with instructions about who you want to inherit your estate and assets, care for your dependents, and be your executor when you die.
For parents, a Will allows you to:
Appoint a trusted guardian for your child.
Protect your child’s inheritance with a trust for their financial stability.
Minimise potential legal complications.
State how belongings are shared amongst everyone, including children from previous relationships.
Maintain family harmony.
Enjoy peace of mind that your wishes are known.
Hear from our Senior Solicitor, Natalie Darcy, as she explains why new parents should prioritise making a Will.
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Plan for your children's future with a Will
NSW Trustee and Guardian's Senior Solicitor, Natalie Darcy, talks about the importance of making a Will to protect your growing family.
When a person dies without a Will, it is referred to as dying ‘intestate’.
If you don’t have a Will or one that complies with NSW Law, your money and assets will be passed to your next of kin, leaving you with no control over their distribution.
Without a designated guardian for your child, family or friends could apply for guardianship. The Family Court will then decide who they live with, which may not align with your preferences.
An intestate estate is also generally more expensive to deal with and it could take years before beneficiaries receive any assets.
Can’t you just use a DIY Will kit?
DIY Will kits lack the guidance of legal professionals. Without expert oversight, you might miss critical details or provide incorrect information in your Will. This could lead to potential legal costs and delays in administering your estate.
Make your Will with NSW Trustee and Guardian
NSW Trustee and Guardian provides an independent service at various locations to prepare your Will, Power of Attorney and Enduring Guardian documents, with packages to suit you.
Navigating the world of Wills and Estate Planning can be confusing. You may have heard the terms Beneficiary, Executor, Administrator and Trustee but do you know what they mean?
In recent years more and more people are considering their pets as family members. As such, just as you would consider care and guardianship for a child, thinking about what may become of your pets if something should happen to you is just as important when making a Will.
