The Importance And Purpose Of Getting A Will:
For a lot of people, getting an inheritance makes them feel like they have won the lottery. Imagine getting a big bonus for something that you haven’t really worked hard for. If you are a parent and you happen to have a couple of properties that you would like your kids to inherit in the future, it is best that you get a Will in order to secure your properties even when you are gone.
At one point in time, we all have heard stories of children or sibling fighting tooth and nail over properties and monetary inheritance even if the parents are still alive. These scenarios are really heartbreaking and disappointing for the parents to witness. In some countries the common practice is if both parents have already passed away and the remaining properties are not divided accordingly, all living heirs are automatically declared as co owners of the property or estate which is not a very good idea because one or more heirs can take advantage of this situation by either selling or pawning the properties without others knowing about it. That is why that all the necessary paperwork needs to be signed by a notary public to prove its legitimacy and to avoid fraudulent activities and other legal issues from arising in the future. That is the reason why it is very important to draft a living will while you are till strong and able to make the right decisions. You should create your will according to your own decisions, do not allow anybody not even your spouse or any of your children to pressure you and dictate what properties should go to whom.
You should also sit down and talk things over with a couple of probate lawyers Melbourne and discuss with them your plans before drafting and finalizing your last will. Your will should contain all the necessary information on what should happen to your existing properties and money after your death. In some countries where the laws are more strict the policy is that if you die without a will, unfortunately it is the law who decides to get the inheritance and this may go to people or relatives who are not initially intended to receive anything from you. You have to appoint a trusted executor who will be in charge of handling your estate after your die and to make sure that all instructions indicated on the last will would be carried out as planned. You also have to make sure that the will is valid by having 2 witnesses (they should not be a recipient of any inheritance from you) to sign the document.