High Court rules against ATO, finding tax debts can be shifted between spouses
7 reasons to have a will
#1 Your children
If your children are under the age of 18 years, you can choose to nominate guardians for them in your Will and make arrangements for their maintenance and education.
#2 Your new marriage
Did you know that marriage automatically cancels all previous Wills? So if you have made a will before you married and still want to continue to provide for those beneficiaries you must make a new Will.
#3 Your De facto partner
If you die without a Will your de facto partner may not automatically be entitled to your estate. He or she might stand to lose the assets and treasured mementos that you want them to have.
#4 Your Divorce
A Will is revoked if the marriage ended, except where a contrary intention appears in the Will or there is other evidence establishing such an intention. (*this is subject to your State’s legislation)
#5 You Decide who gets your property
If you die without leaving a Will, your estate is divided according to the law and you will have no say in how your estate is distributed.
#6 Early, less costly and efficient distribution of your estate
A professionally drawn and executed Will greatly assists the cost-efficient administration of your estate and the early distribution of your assets to the beneficiaries named in your Will.
#7 You choose your Executor
When you make a Will, you appoint an executor who is responsible for looking after your estate and distributing your assets according to the instructions contained in your Will.