There are a range of things to look for in your Will, to make sure it’s up to scratch and covers all the necessary information. Your Will represents your estate and your wishes about what will happen to your assets in the event of your death. When you’re preparing your Will, you need to be thinking about the main parts that are going to impact the distribution of those assets, and you need to be looking for some of the key elements that are important to get right.
A question we often get at Willed is, how do you make sure that it stands up if it’s challenged? That can be a tough one - but you can rely on your Will the most, if you’ve gone through the correct process and checked off some of the essential and necessary parts. Writing a digital Will online carries the same weight and legal recognition as any other Will, and it involves the same pieces.
Does your Will have your Beneficiaries clearly named?
Your beneficiaries are one of the three most important elements of your Will. If you’ve written it up correctly, they’ll be clearly identified, and it will be easily apparent who you are choosing to make a part of your estate. Ideally, you will have highlighted this in advance and had a conversation with each of the beneficiaries in turn.
If there is confusion or if there are unclear instructions around who your beneficiaries are and what they should be receiving in terms of your assets, gifts or bequeathments, it could make your Will problematic and difficult to execute. Looking for that clarity can be a good way to ensure that your Will stands up and carries through your final wishes.
Does your Will have an Executor?
The Executor is an important role in the creation and application of a Will. It’s the Executor’s job to make sure that your Will is carried out and legally put into action when you die. When your Will has been properly written, it will be clear who your executor is, and there won’t be any confusion. The role of the Executor is one that involves a high level of trust, so your decisions here will be crucial. Taking the executor seriously and bringing them to the table helps.
When your Will is written, make sure you go back over it and check that there is clarity and there are concise instructions regarding your Executor.
Has your Will been properly witnessed and signed?
Before you can say your Will is done, dusted and sorted, you do need to take some final steps. Look for whether your Will has been properly witnessed by an eligible person, and make sure it has been signed. Without carrying out this final step, your Will won’t be considered a legally binding document, and your instructions may not be carried out. Witnessing and signing your Will is the last step in the process at Willed.com.au, and we encourage our users to finish their Will, print it and get it done as soon as possible.