Do You Have A Will?
By Partner Joe Vizzone
A will sets out who you want to leave your assets to and who you want to put in charge of your assets (your Executor). If you have young children it can also be used to appoint a Guardian for them and to determine who they live with if they are orphaned.
It is a very important and powerful document. Everyone should have a will to address those issues.
When a person dies without leaving a will he/she is described as dying intestate and the entitlement to his or her assets in the absence of a will is determined by law. It can lead to some surprising and in some cases, some disappointing outcomes.
We had a case a few years back when a client died without a will. He had been estranged from this wife for 30 years and had nothing to do with her since they separated. However, they were never divorced. He had no children so the wife received all his estate as he remained lawfully married to him. She got a home unit he had at Botany and a sizeable bank account out of his estate. By all accounts from those who knew him she was the last person he would leave anything to.
Make sure you decide who gets your assets when you die and who is going to finish off your affairs for you. Get a will done.
At Vizzone Ruggero Twigg Lawyers we deem wills to be so important that all of our Partners and Solicitors are skillfully trained in drafting and executing Wills. Make an appointment today by calling our Sydney CBD Office on 9264 7244 or our Mascot office on 9667 1271.
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