Wills. No not Prince William (for all you royal family fans). I’m talking about your Last Will and Testament. Before your eyes glaze over here’s something I’ll bet you didn’t know: If you die in NSW without a Will your estate is administered by the State Government. Now I don’t know about you but if the State can’t seem to build a rail line out to Kellyville what hope do they have of knowing your wishes after you’re dead!

That is a little dramatic but not far from the truth. Read this article about a man who’s been fighting the NSW Trustee and Guardian over the treatment of his 94 year old mother at the hands of a hostel service. CLICK HERE.

So why are Wills, Powers of Attorney, Enduring Guardianships etc so important? I guess the simple answer is a question for you: Who do you want to be in charge of your affairs or your estate should you become incapacitated or die? Well, my answer to that question is simple: Firstly, my wife then if she cannot for whatever reason, I have other family and close friends named to serve that function.

You know what really scared me into taking action regarding my will:  my children. Michelle and I have three young children and I absolutely DO NOT want the State taking charge of who looks after our children should both of us prematurely die or be unable to look after them. Imagine having DOCS take your kids because you didn’t leave any instructions.  

So how easy it is to get your Will and other legal documents sorted? You could easily get it turned around in a couple of weeks. It took us about 3 months simply because we had to both see the solicitor at the same time to finalize the documents. But let me tell you, the piece of mind I had when leaving my solicitors office was worth it.

Costs will vary depending on complexity but a rough figure would be around $1,250 for a fully loaded Will. “But what about those $20 will kits from the newsagent?” you may ask. The simple answer is another question: Do you want a robust Will that covers not just your estate but establishes trusts for your kids, sets up Powers of Attorney and Enduring Guardianships? Can’t do that with a budget will kit. And don’t even think about using any ‘ole solicitor. My advice is to use a legal professional who specializes in Wills and Estates because this is one document you don’t want to be inadequate.