Do You Need a Will? (Yes - Here’s Why)

Most people know they need a Will. Far fewer actually have one. Wills and estates lawyer, Angelica Brigandi, explains why it matters sooner than most people think.

"I'll get to it later."

This is probably the most common thing people say when making a Will. Usually it's followed by something like "I'm still young", "I don't own much yet", or "surely I don't need one yet".

Most people think that a Will is something you only deal with later in life, once you've reached a certain age, bought a house, built wealth or retired. But often, people need a Will much earlier than they expect.

A Will is not just about money or major assets. It's about making things easier for the people around you and making sure important decisions are already taken care of if something unexpected happens.

When should you make a Will? Most people leave it too late.

A lot of people put it off for understandable reasons. You might still be renting, you may not feel like you have enough assets yet, or life might already feel busy enough with work, children, relationships, or simply trying to stay on top of everything else.

A Will is about who makes decisions, who handles your affairs and who receives what you leave behind. Once those things start to matter, a Will usually matters too.

Get started on your Will today.

When do you actually need a Will?

For many people, the answer is earlier than they think.

Some of the most common life events that trigger the need for a Will include starting work and building up superannuation, buying property, having children, entering or leaving a relationship, starting a business, or holding assets in different structures.

These are all very normal life stages, but they can significantly affect what happens if something unexpected happens to you.

If you're not sure whether you need a Will yet, it's often worth simply having the conversation.

What happens if you don't have one?

If someone dies without a Will in Australia, they are considered to have died intestate. This means their estate is distributed according to a legal formula set out under legislation, rather than according to their personal wishes.

Sometimes that outcome lines up with what the person would have wanted. Sometimes it doesn't. It can also create delays, extra legal steps, added costs and unnecessary stress for family members already dealing with a difficult time.

People are often surprised to learn that not everything automatically goes where they assumed it would.

Superannuation is a good example. A lot of people assume their super automatically forms part of their estate, but depending on your arrangements, it may be paid directly to a dependant or to your estate.

Without proper planning or clear documentation, there can be uncertainty around who receives those benefits.

"But I don't have much" - do I still need a Will?

This is probably the biggest misconception around Wills.

Having a Will is not about how much you own. It's about who makes decisions and who benefits if something happens to you.

Even relatively modest estates can become complicated without proper direction. Superannuation, savings, insurance payments and personal belongings can all create uncertainty if nothing has been clearly documented.

A Will simply provides clarity.

If you have children, you probably need a Will

For many people, having dependants is the point where making a Will becomes essential.

A Will allows you to record who you would want caring for your children if both parents were no longer around.

While the Court ultimately considers what is in a child's best interest, having your wishes clearly documented can provide important guidance and help avoid uncertainty or disagreement between family members.

A Will can also deal with how money or assets are managed for your children. Rather than a child receiving assets outright at a young age, you can put structure in place about how and when funds are accessed, who manages them and how they are used for your children's benefit.

Without those directions, decisions may need to be worked through later during an already emotional and stressful time. For many parents, the peace of mind that comes from having those conversations dealt with properly is reason enough.

It's not really about death - it's about control

One of the biggest shifts people make once they properly understand estate planning is realising that a Will is not really about death; it's about clarity and control.

A Will allows you to make decisions now, rather than leaving your family to make difficult decisions later.

It gives you a say in who manages your affairs, who receives your assets and how things are handled if something unexpected happens.

Some questions worth asking yourself:

• Who would you want making decisions on your behalf?

• Would they actually know what you would have wanted?

• Would your family be clear on what to do, or would they be left trying to figure it out during an already difficult time?

Having a Will in place means those decisions are not left to assumptions, uncertainty, or legal formulas.

How we help make it straightforward

At McManus & Co Lawyers, we try to keep the process simple, clear and easy to understand. Most people are surprised by how straightforward it actually is once they get started.

Our role is to guide you through it, explain things in plain language and make sure your documents properly reflect what matters most to you.

Making a Will is one of those things people often build up in their mind to be far bigger or more complicated than it actually is. In reality, it is usually quicker and more straightforward than expected.

The hardest part is often just getting started.

Life changes quickly, and often earlier than expected. Having a Will in place helps make sure your wishes are clear and your family is not left dealing with unnecessary uncertainty later on.

Book a consultation with our team and get it sorted.