When you go through your life admin to-do list, sorting out your will is rarely at the top. After all, it’s much easier to get caught up in Medicare claims, tax returns and insurance renewals, instead of thinking about the legacy you want to leave behind.
And yet, your will is perhaps one of the most important documents you’ll ever sign. Think about it: your ‘Last Will and Testament’ is one heavyweight piece of paperwork.
However, it’s estimated that almost 1 in 2 Australians don’t have a current or valid Will[i]. So perhaps it’s time to move it up to the top of that to-do list.
Why is a will important?
If you die ‘intestate’ – i.e. without a will – it means you are relinquishing the power to choose where your assets go, and it will be left to a government agency divvy up and distribute your wealth, using use a standard formula.
You might be fit and healthy, running marathons every year or maybe you just think you’re too young for a will. Perhaps you assume that a Will is only necessary for the wealthy?
But a will is an opportunity for everyday Australians to pass on what is important to them and what they have worked hard for. If you have possessions of any kind, even superannuation and other investments, you have ‘an estate’. Therefore, establishing or renewing a Will is a crucial part of smart planning and good financial management.
Unfortunately, our financial responsibilities don’t end when we die – they simply change. So, having a will ensures that:
Your family knows your wishes.
The family can avoid conflict or tension trying to guess what you wanted.
Your children or dependants are protected.
You can leave gifts to the important people in your life.
At Yellow Brick Road one of our aims is to reduce financial stress at every stage of your family’s life journey. Including those times where the last thing you want your family to deal with is money, negotiations or conflict.
We’ve created an innovative offering to help you get your will done quickly and affordably, while ensuring it’s legally robust.
Three reasons to ask your local Yellow Brick Road adviser about writing a will.
Your YBR Will is a fast, simple and affordable way to create or update your will – online, in just ten minutes.
Our new Will product provides detailed instructions about who will inherit your property and look after your affairs. The service is designed by lawyers to make sure every will is a robust legal document that would be recognised by a court.
Our Wills are designed to be flexible and can be used for a range of estate-planning scenarios. For example, you might want to leave a legacy for multiple people or even charitable causes, or you want children to inherit property only after a certain age. Our wills allow for this, in a user-friendly format.
By creating a Will with Yellow Brick Road, you can give your family clarity and certainty about your wishes. Pass on your wealth the way you want to, so you can protect the people you love.
 Source: NSW Trustee & Guardian “Studies show that at least 45% of Australians do not have a valid Will." http://www.tag.nsw.gov.au/wills-faqs.html