Yes you do! What about your items of sentimental value - things we may have inherited over the years, or personal things like jewellery. Does it matter to you where these things end up or who gets what? Is it important for your children or grandchildren to keep hold of things from your lifetime, to keep a family legacy alive? If it is important, you need to specify this in your Will.
Similarly many of us have items of monetary value even if we’re young. Almost everyone has compulsory superannuation as well as various insurances that may be held by us or our employers.
Belinda was 21 years old with no Will when she was killed in a motor vehicle accident during the course of her employment. There was a $200,000 accident cover. The estate passed to mother and father equally on intestacy, but the father had deserted her family weeks before she was born. Although they had never met, Belinda’s father received $100,000.
You may even have some items which you are not sure of their value. We have some great advice below from antiques valuer Jolyon Warwick James that you may find helpful.