While most people don’t want to think too much about preparing a Will, it is vital to have one in place, not for yourself, but for those you care about most. To help make the process of constructing your Will a little bit easier we’ve put together a few things you need to consider.
The Importance of Having a Will in Place:
The Role of an Executor:
While a lot of people don’t see the importance of a Will; especially younger people, having an up to date Will is extremely important, because as the old saying goes ‘accidents do happen’. It may sound a bit morbid, but unfortunately you never know what’s around the corner; you may be in an accident, or struck by a serious medical condition and the last thing you want is for your family not to be taken care of.
Family Provision Applications:
If you believe that you were left out of a loved one’s Will, or that they did not make adequate provision for you then there are steps you can take to challenge it. The first step to would be to bring a ‘Family Provision Application’ (“FPA”), which is a challenge against the estate disputing the distribution of the contents of the Will. Usually an FPA is filed when due to certain circumstances a family member has decided not to leave anything to a person, or leaves them with too little.