What is a Will?

A Will is a legal document that advises of your wishes for your assets after your death.

A valid Will must:

  • Be in writing.
  • Be signed by the maker and such signature be witnessed by two independent witnesses.
  • Be made by a person who has testamentary capacity.
  • Be made voluntarily.
  • Deal with assets.
  • Appoint at least one executor.
  • Not have been revoked.

If any of the above requirements are not met, the Will may not be void, instead it may become an informal Will which can still be valid.

The assets that cannot be covered or bound by a Will are, assets held by a superannuation fund, assets owned by discretionary trust, proceeds from a life insurance policy, assets owned by a unit trust, or assets held by a company (except for shares).

Rafton’s are your trusted wills and estate lawyers in Sydney and we work with you to make sure that your Will is kept up to date and valid, even after significant changes in your life (such as divorce, buying or selling a house or re-marrying). We can help you with making a will to protect your loved ones and provide legal advice on how to write a Will that will cater for even the most complex family situations including blended families, difficult relationships and family members with special care needs or disabilities.

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These fact sheets are designed to provide an overview of the relevant issues and systems so that you have a better understanding of the process.

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