17th March, 2025
Creating a Will is crucial to ensure your wishes are honoured after you pass away. While you can write a Will yourself, consulting a lawyer ensures it’s legally valid and reflects your intentions accurately. Creating a Will can be an overwhelming process so below is a simple step-by-step guide to help you through the process.
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Gather All Necessary Information
Before meeting with your lawyer, gather information about your assets. This includes your property, savings, investments, cars, and any outstanding debts. Here’s what you’ll need:
- Cars: Bring the registration certificate, insurance documents, and proof of purchase (e.g. sales receipt).
- Property: Gather the title deed, mortgage documents, and land tax statements.
- Bank Accounts & Investments: Include statements and details about any debts or loans.
- Personal Belongings: List valuable items like jewellery or heirlooms.
- Insurance Policies: Include any life insurance or relevant policies.
These documents will help your lawyer create a Will that accurately reflects your assets and intentions.
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Determine Distribution of Assets
Next, decide who will inherit your assets. Be specific about who receives each item, whether it’s a family member, friend, or charity. This clarity helps avoid confusion and ensures your wishes are followed.
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Appoint an Executor
Your Executor is responsible for carrying out your wishes. Choose someone trustworthy and capable of managing your estate. If you don’t have a suitable person, a lawyer can be a substitute for this role instead.
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Choose a Guardian for Minor Children
If you have young children, appoint a guardian to care for them if you and your partner can no longer do so. Choose someone who shares your values and discuss the role with them before naming them in your Will.
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Consider Special Wishes
Your Will can include specific instructions about pets, funeral arrangements, or digital assets like social media accounts. These details ensure your wishes are clear and respected.
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Draft Your Will with Legal Help
Once you’ve made your decisions, your lawyer will draft the Will. Your lawyer will ensure the document meets all legal requirements in New South Wales. They will also ensure it’s witnessed correctly by two independent parties who are not beneficiaries.
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Sign and Witness the Will
For your Will to be legally binding, sign it in front of two independent witnesses. They must not be beneficiaries. This is a crucial step in making your Will valid.
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Store Your Will Safely
After signing, store your Will in a safe place, such as a secure filing cabinet, with your lawyer, or even digitally in a secure online storage platform. Ensure your Executor knows where to find it. It’s also wise to inform your family of its location in case of an emergency.
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Review and Update Your Will Regularly
Life changes, and so should your Will. Update it after major events like a marriage, divorce, or the birth of a child. Regularly reviewing it ensures your Will remains accurate.
Creating a Will can seem overwhelming, but our experienced team at Castrikum Adams Legal is here to guide you through every step. We’ll help you create a clear, legally binding and valid Will that ensures your wishes are respected. Contact us today to schedule a consultation.
If you found this guide helpful, we invite you to check out our other blog posts.