What is a Will?

last_will_and_testament

What is a Will?

A Will is a set of written instructions that explain how you wish for your property to be distributed in the event of your death. By creating and properly executing a Will, you can ensure that your assets will be distributed to the people of your choosing.

Terminology

Testator:
Any person who makes a Will.

Executor:
The person who you nominate to carry out your wishes after your death.

Beneficiary:
Any person who receives a gift from a Will.

Estate:
Your assets, less liabilities, as at the date of your death.

Power of Attorney: This allows a person to legally act on the behalf of another person.

Enduring Power of Attorney: This allows the person appointed to manage your legal affairs if you lose mental capacity.

Probate: Proving and registering a Will with the Supreme Court following the death of the Testator.

Other Blog Posts about Wills

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