How Do I Make My Will?
With LawPath’s step-by-step guide to creating a Will, the administration of your property and assets (the ‘estate’) according to your wishes will be certified. LawPath’s convenient and affordable Online Will
With LawPath’s step-by-step guide to creating a Will, the administration of your property and assets (the ‘estate’) according to your wishes will be certified. LawPath’s convenient and affordable Online Will Kit ensures that your estate is distributed to those who are important to you.
What is a Will?
A Will is a legal document that establishes how your property and assets will be divided after you pass away. The creation of a Will is a necessary and positive step in creating a legal document that establishes: Any specific assets you would like to give to a person (called a ‘beneficiary’). The person who you would like to carry out your wishes (called an ‘executor’). Any further instructions you may have (such as any preference of who will be the guardian of your children).
Why do I need a Will?
Creation of a Will ensures peace of mind that your loved ones will receive the assets according to the matter in which you have instructed. Failure to create a legal Will may result in:
- The government distributing your assets according to a fixed formula, potentially passing your personal property into government ownership, if there are no surviving relations;
- Costly and timely court applications by family or friends to appoint an executor.
What Are the Steps I Must Take When Creating My Will?
To ensure that your Will is valid it is essential that you follow the steps outlined below.
- Download the LawPath Online Will Kit;
- Fill in the document using the easy to use online interview;
- Access your customised Will on your MyLawPath and read over it;
- Date the Will;
- Ensure that two or more witnesses are present when you plan on signing your Will. A witness must not be a beneficiary (a person who will receive an asset from the will in question);
- In the presence of the witnesses, sign at the bottom of every page and initial any alterations that have been made;
- In the presence of the Will-maker and each other, the witnesses should sign at the bottom of every page and initial any alterations. Use the same pen as evidence of the Will being signed at the same time;
- Witnesses should print their names and addresses below their signatures;
- Store the Will in a safe place, such as a safety deposit box in a bank. A digital copy of your Will is kept in your MyLawPath account;
- Label any copies of the Will with ‘Copy: Original Kept at…’
- The names of the Will-maker and the Witnesses must be printed on any copies. A copy should be kept with the Will-maker and the executor.
“Unsure where to start? Contact a LawPath consultant on 1800LAWPATH to learn more about customising legal documents, obtaining a fixed-fee quote from our network of 600+ expert lawyers or to get answers to your legal questions.”
Dominic is the CEO of Lawpath, dedicating his days to making legal easier, faster and more accessible to businesses. Dominic is a recognised thought-leader in Australian legal disruption, and was recognised as a winner of the 2015 Australian Legal Innovation Index.