Last Will and Testament Made Easy With Simply Willing
Last Will Overview
We know we should write a Last Will and Testament, but many of us never seem to get round to it.
We are scared off by the thought of it, the cost of preparing a Last Will, and sometimes we just decide to "do it later". It’s a fact that many people die without ever having made a Will (Intestate). Approximately 7 out of 10 people in Australia, UK, US and New Zealand die without leaving a Will.
If you do not have a valid Last Will and Testament prior to your death this can mean chaos and financial worry for your family after you’ve gone. Without a valid signed Will, your money and property may not be passed on according to your wishes. The laws in your country will apply and an effort made to distribute your estate fairly. However this may not be in the same manner that you had in mind.
Last Will and Testament - Why Should I Make One?
If you die without a Last Will the intestacy rules that apply in your country determine who inherits what from your estate.
A Last Will is your written expression of HOW and to WHOM you want your estate to be distributed. Your Last Will also outlines how you wish to be buried, cremated or whether you wish your body to be used for medical research purposes or for organ donation.
The choice is yours.
You can use your Last Will to appoint guardians for minor children, otherwise the courts will have a say in their future, and to minimise inheritance tax which may apply.
It’s a lot simpler and fairer for YOU to make the decision, now, rather than leave the decision for those of your relatives left behind after you are gone.
Making provision for your estate distribution to be managed in the manner that YOU wish is one of the most important aspects you can leave for your family and heirs and successors to ease the burden faced after the death of a loved one.
You may also use this software as a general guide before meeting with your lawyer or estate planner to generate a pro-formal document that can be used to simplify discussions with legal advisers.
VERY IMPORTANT
For the Last Will to be legal and executable upon your death, it must be signed in your own hand and witnessed by at least 2 independent persons, with date of signing, date of witnesses signatures. The complete printed signed version of your Last Will should stored in a safe place.
When NOT to use Simply Willing
It’s tempting to save money by setting up your own Last Will, but we recommend that you seek professional legal advice to create a Last Will if:
* If your estate is not simple, for example because you want to set up trusts, you have large amounts of real estate or are a partner in a business.
* Your circumstances are complicated or the way you wish to pass your assets on is very detailed.
* You have a beneficiary or family member or partner who is unable to care for themselves and is financially and physically dependent on you.
* You have been married before or have children from a previous marriage or are in a blended or de facto family situation.
* Your permanent home is not in the current country you are located in and/or you are not a citizen of the country you reside in at present.
* You have property, or assets or funds located overseas.
* You run a business or a part owner of a business .
* You want to reduce or avoid tax obligations that may be applicable at death in your country.
Should you have such requirements, we strongly recommend that you consult a professional adviser to create a Last Will that specifically suits your circumstances.
Last Will - The Program
SimplyWilling is a wizard developed by Secrett Systems after we got stuck with some tremendous legal fees to get a Last Will and Testament drawn up by a lawyer. As it turned out, the Last Will was really simple to draw up since the estate was not complex.
The program provides you with a simple interface that guides you through the steps you have to follow to draw up your Last Will.
We spent some time researching the legal requirements to draw up a Last Will in the following countries:
* Australia
* Eire
* New Zealand
* South Africa
* United Kingdom
* United States
We are confident that Simply Willing meets all the legal requirements in those countries and that you can safely use the program confident that your Last Will shall be legal.
Creating Your Last Will - Benefits of Simply Willing
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Simple, easy to follow interface.
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All data entered that requires it is validated.
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If you use a paper kit available at most newsagencies, to re-do your will you have to buy another kit at $20 or so. With Simply Willing you can use it as many times as you like.
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If you decide to make a change and you have used a lawyer to prepare your Last Will, you will still be up for much more than the cost of Simply Willing just to add a codicil.
Drawing Up A Last Will and Testament
There are a number of caveats, such as the rules about minor children, all of which are identified in the Simply Willing help files.
When you draw up a Last Will, the law in all of the countries above require you to provide the following information:
* The Testator's full name and address.
* The full name, address and occupation of 2 executors.
* The full name, address and occupation of 2 witnesses.
All of the countries above require you to sign the Last Will in front of at least 2 witnesses. These witnesses must not be beneficiaries of your Last Will.
The rest of the detail you can enter into a Last Will, when your estate is simple, are:
* Specify your preferences for the disposal of your remains.
* Appoint guardians for minor children.
* Make specific bequests.
* Make general bequests.
* Describe how the residue of your estate is to be disbursed.
* Write out a Testament - statement about your life, recalling the good times (and maybe the bad), expressing regrets for opportunities missed and so on. What you put into your Testament, if you decide to write one, is entirely up to you.
There is no requirement to enter details about guardians for minor children, bequests and so on but if you are not going to take steps to care for your minor children and you're not going to make any bequests, there is no point in making out a Last Will.
Creating Your Last Will And Testament
After you have entered all the mandatory and optional detail, you can save your Last Will. It is saved in a format that you can later open up and amend if you wish.