50% of Victorians don’t have a Will
Victorians are being urged to ensure their final wishes are granted by making sure that they have a legal and up-to-date will.
Attorney-General Rob Hulls joined acting legend Bud Tingwell to launch Good Will Week, a State Trustees initiative to inform Victorians about the issues and opportunities of wills.
“When it comes to ensuring your final wishes are respected, where there’s a will there’s a way,” Mr Hulls said. “As a husband, a father, a son, a brother, a friend and a committed supporter of charity, I want to make sure I leave a positive legacy to those I care about.
“About 50 per cent of Victorians eligible to prepare a will don’t have a valid, up-to-date will in place. State Trustees see countless cases where this failure has caused traumatic, emotional and financial consequences for loved ones.” Mr Hulls said it was vital that anyone over the age of 18 with income and/or assets prepared a will and updated it every two to three years.
“Many of us presume we’re too young to prepare a will or we don’t have anything of any value to pass on but many people are worth much more than they think,” he said. In most cases where people die without a will, state law decides how his or her estate is divided. The formula used to divide an estate may not reflect the deceased’s wishes and may cause undue hardship, cost and delay for the deceased’s loved ones.
This extract is from a recent media release from the office of the Attorney-General (Vic)
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