If you think you’re too young to make a Will - think again. No one knows what is around the corner. You may also be worth a lot more than you think. In addition to any possessions like cars, electronics and jewellery, if you have done any paid work, you have earned superannuation. If you don’t have a Will, this stuff gets divided according to a pre-determined government formula and may not end up with who you want to have them. And if something happens to you at work or while you’re travelling overseas, there will probably be an insurance payout too that would need to go to someone. If you make a Will, you get to choose who gets what.
Do I know what all my assets are? This includes savings, jewellery, gadgets, cars, insurance (including from your work).
- Do I want my de facto partner to inherit everything or do I want some things to go to my parents?
- Do I need to consider leaving things to my friends?
- Have I considered any superannuation I may have earned while working?
- Are there any pets I need to appoint a caretaker to?
- Have I considered personal/sentimental belongings as well as financial assets that I own?