Death is an awkward subject for many people. No one wants to think about the fact that, at some time, they will pass away.
This is why Wills and estate planning is often left to the last minute, or overlooked completely, Estate planning lawyers Rosemary Caruso and Fiona Fagan tell the Law and Life podcast.
And without proper planning and advice, cases of unusual, informal Wills arise. Notes written on walls, post-it notes, video messages and other forms of communication have been proven to be valid Wills, however, it’s far from as simple as writing down a few instructions for distribution of your assets. Rosemary and Fiona explain how informal Wills often lead to a court process, delays, extra costs and greater potential for disputes.
Even homemade Wills, which are extensively advertised, create problems.
Rosemary and Fiona define the Will, outline tips and traps, and explain how to create your own professionally drafted Will.
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On August 1, 2017, the Relationships Register commenced in South Australia, giving greater legal recognition to LGBTQI and de facto relationships. To find out how the Register impacts your will click here.