What happens if you pass away before preparing a valid Will?
A valid will is the cornerstone of effective estate planning, yet many people in Western Australia delay or overlook this critical task. Without a will, your estate is considered "intestate," and the process for distributing your assets may become complicated, time-consuming, and potentially inconsistent with your personal wishes. Here’s what you need to know about the risks of not having a valid will—and how Estate Essentials can help.
What Happens to Your Estate Without a Will?
If you pass away without a valid will in Western Australia, your estate is distributed under the Administration Act 1903 (WA). This legislation follows a strict hierarchy of beneficiaries, which may not align with your intentions. For instance:
If you have a spouse and children, your assets are divided between them, rather than solely to your spouse.
If you have no spouse, children, or close relatives, more distant family members may inherit your estate.
Only if no eligible relatives are identified does the government receive your estate.
This process can result in assets going to individuals you may not have chosen, potentially leaving loved ones financially vulnerable.
The Importance of Preparing a Valid Will
A valid will ensures your assets are distributed according to your wishes, providing certainty and peace of mind for both you and your loved ones. Having a properly prepared will also helps to:
Avoid disputes between family members.
Minimise delays in administering your estate.
Simplify the executor's responsibilities, reducing stress during a difficult time.
Even a straightforward will, like our Core Will, may suit many individuals. However, it’s important to ensure the will is tailored to your specific financial and personal circumstances to maximise its validity and effectiveness.
The Risks of DIY Templates
While DIY templates may appear convenient and cost-effective, they often lack the necessary legal guidance and customisation. These templates:
May not fully comply with Western Australian legal requirements.
Are less likely to address complex financial or family arrangements, such as blended families, superannuation, or business interests.
Increase the risk of disputes or invalidation if not completed correctly.
At Estate Essentials, our guided and customisable online platform avoids the pitfalls of generic templates. We ensure your will reflects your unique circumstances while meeting the requirements of Western Australian law.
Why Choose Estate Essentials?
At Estate Essentials, we offer accessible, professionally guided tools to help you create:
Core Wills (our version of a ‘simple will’) for straightforward estates.
Testamentary Trust Wills for added asset protection and tax benefits.
Comprehensive estate planning packages, including Enduring Powers of Attorney and Enduring Powers of Guardianship.
Our intuitive platform guides you through every step via a simple questionnaire, helping you create a legally compliant will tailored to your specific needs.
Take Control of Your Legacy
Dying without a valid will places your estate in the hands of legislation, rather than your intentions. By preparing a valid will, you can:
Protect your loved ones.
Avoid unnecessary complications.
Ensure your wishes are carried out.
Start your estate planning journey today with Estate Essentials, where creating a will is affordable, straightforward, and stress-free.
Ready to begin drafting your Core Will? Click here.
Disclaimer: The information provided in this article is general in nature and does not constitute legal advice. Estate Essentials is not a law firm and does not provide legal services. While we strive to provide accurate and up-to-date information, it may not apply to your specific circumstances or address all potential issues. We strongly recommend consulting an independent legal professional to ensure your estate planning documents meet your unique requirements.