Do I need a will?

Yes. A will gives you the right to make sure your assets are distributed according to your wishes and that your children are cared for by someone you trust.

Not having a will can be costly for your family after your death, possibly resulting in significant legal fees and/or your wishes not being followed.

In Australia, if you die without a will, you are considered to have died 'intestate'. This means that the government uses a standard formula to distribute your estate. The formula does not make any allowance for how much people meant to you or how prominent they were in your day-to-day life. It also does not take into consideration the value that you placed on individual possessions and who was to receive that special gift.

Disputes often occur where there is no will and are sometimes fought in court. Legal action is expensive and the cost may come out of your estate, further reducing the amount that ends up going to your loved ones. To avoid costly legal battles, family arguments and disagreements, it is important that you make sure you write a will that is legal. It is the most caring thing you can do to help your family and friends.

Is a DIY will or online will ok?

Using a DIY will kit may seem like an easy way to save money and time, but when you die it is likely to cost your family significantly more. By investing in a professionally prepared will, you can have peace of mind that your estate and your family are well taken care of.

Can I just do a will? Why do you recommend an estate planning package?

A will is an important part of an estate plan, but it is not enough. A will comes into effect when you die, however, you may lose decision making capacity before you die, and you will need a power of attorney and an advance care directive to allow someone else you trust to make financial and healthcare decisions for you.