Now You Have a Will: What’s Next?
Once you’ve created a will, it’s essential to understand the following steps to ensure your wishes are carried out effectively. Knowing how to prepare for changes can be tricky to do alone, but Law Team specialises in prevention and clarity. Here are some key considerations:
- Notify Key Individuals:
- Executor: Inform your executor (the person in charge of your will) about the existence of your will and where it is stored.
- Beneficiaries: While letting your beneficiaries know you’ve made a will to provide them peace of mind is a good idea, you don’t have to tell them any details about the will.
- Family and Friends: Share information about your will with trusted family members and friends who may need to know your plans. Sharing details isn’t integral, but it may put your mind at ease.
- Review and Update Regularly:
- Life Changes: Significant life events such as marriage, divorce, the birth of a child, or the death of a beneficiary can necessitate changes to your will.
- Asset Changes: If you acquire or dispose of substantial assets, reviewing your will to ensure it reflects your updated financial situation is essential.
- Legal Changes: Changes in inheritance laws or other relevant legislation may impact your will.
- Secure Storage:
- Safe Custody: For peace of mind, you can elect to have your estate planning documents kept safely in a fire safe cabinet with Law Team. To resolve any worries about storage, safety and privacy, you have the right to leave it in the care of your solicitor.
- Consider a Will Kit:
- Law Team Central Coast: If you need to update your will and don’t want to go through the entire process again, consider a will kit from Law Team. This can be a convenient option for minor changes.
- Discuss with Your Employer:
- Superannuation and Savings: If you start regular employment, it’s an excellent time to explore how a will can help protect your superannuation and savings. Your employer and the HR department may have resources or advice on this topic.
- Schedule a Review with Law Team Central Coast:
- Personalised Guidance: If you have questions or concerns about your will or require more personalised advice, consider scheduling a consultation with Law Team. Their experienced team can provide tailored guidance to ensure your wishes are met.
Clarifying the implications of change in your life is Law Team’s role. We will assist you through moments where unexpected challenges arise and ensure we take the sweat out of the process for you.
Now You Have a Will: What’s Next?
