While loved ones should always be your first consideration, have you ever thought about the legacy that you could leave behind by including a charity as a beneficiary in your Will?
Around 25% of Australians say they would like to include a charity but it’s often not top of mind when it comes time to write their Will, resulting in only 7.5% following through. This is unfortunate because, for many people, their legacy is a wonderful chance to make a big difference in the lives of vulnerable people around the world, even if they didn’t have the means to do so during their lifetime.
Wills Estate makes it easy and simple to include a charity in your Will.
If you are listed as an Executor, do you need to take up the responsibility?
A nominated person does not have to accept the appointment as executor. A nominated person can, before applying for a Grant of Probate, appoint the State Trustee to act in their stead, or simply sign a renunciation. However, once a person has undertaken any aspect of...
What if no executor is named in the Will?
If Will-maker failed to appoint an executor, usually the court needs to appoint someone to administer the estate. A person appointed by the court is called an administrator (of a Will). Often this is the beneficiary with the largest portion of the estate. An...
Why are Wills important?
Just like going to the dentist or doing taxes, many of us put off writing our Will because it’s something we don’t really want to think about. But if you aren’t specific in how you would like your estate to be distributed after you die, if something were to happen to...
Do young people need a Will?
Don’t leave anything to chance Remember when your parents used to say that you were growing up too fast? And you thought, it’s not fast enough! The thing about growing up is that before you know it, you get swamped with mortgages, insurances, paying taxes,...
Who needs a Will?
A Will is one of the single most important documents a person can have; yet, so many of us put off dealing with it for far too long. Many Australian’s assume that they’re “too young” to need a Will. Some people believe that they don’t own enough assets or have a big...
What is a beneficiary?
A beneficiary is a person who receives all or part of the distribution from the deceased estate. There are two types of beneficiaries that are included in Wills. It’s important to understand the difference so that you can think deeply about how you’d like to divide...