There is never necessarily a bad time to make a will, but many people leave this until later in life. Often, this is because people don't think anything bad will happen to them. Often, it's because they don't believe they have enough assets to bother making a will. In reality, creating a will is the easiest way to protect your family from undue stress should something happen to you.
One thing is for sure—you can't make a will prior to the legal age. In Australia, the legal age to create a will is 18. It is perhaps the first trigger that may lead someone to make a will. Even if you don't hold a great deal of assets at age 18, you still have important items that are valuable to you. Whether it's a car, a small savings account, or sentimental items, making a will ensures you've got control over their future distribution.
Many important life events can trigger someone to make a will. It might be getting married, buying a home, or becoming a parent. Getting married actually nullifies any previous will you created, so it's important to update your will to reflect your current circumstances. It's a good idea to consider your will whenever you go through an important life event. These could mean updating your existing will to look after all family members or even creating your first will.
Making a will is about planning for the future. This future planning helps ease the burden on your family in a difficult time and ensures the important people in your life are cared for. Health events also cause people to think about making a will. If you become sick or suffer a severe injury, chances are, you're thinking about what could happen to your family if you didn't make it. Consider making a will today rather than leaving it until it's too late. The friendly team at Scammell & Co Solicitors are always happy to help.
*This information is current at the time of publication. For accurate legal advice, please contact Scammell & Co on 08 8440 270.
