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What is a Will and why should I make one?

Nicholas Pastro

Sounds like a simple question and most people would be able to answer the first part of it.

A Will is a legally binding document that provides for how a person’s estate will be allocated upon their death. A Will is, in effect, a statement of your wishes. When you create your Will you appoint an executor or executors. The executor is legally responsible for administering your estate in accordance with those wishes. This is done in consultation with a lawyer and is an important role so you should make sure to appoint someone who is honest, trustworthy and organised.

If a person dies without a Will, they are considered to have died “intestate” and the laws of the state determine who will inherit your estate and in what proportion. In this situation, there is no guarantee that this distribution will be in accordance with your wishes and it can result in conflicts regarding what you would have wanted.

Without a Will, the distributions of your estate can become an unnecessarily lengthy and distressing process. A valid Will offers you the comfort of knowing that your assets will be managed efficiently and distributed as you desired.

A Stressless Settlement Welcomed by Both Parties

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