What is the minimum age to have a will? Australian law permits anyone who is at least 18 years old and has legal capacity to make a will. You should seriously consider getting a will today if you are over 18 and have a few assets. If you are ready, feel free to contact us to arrange an appointment. You can rely on FJS Lawyers as we are committed to building successful, long-term client relationships and providing quality and affordable legal advice.
What Is a Will?
A will documents your wishes as to who will inherit your estate when you die. You can also express other wishes, like details about your funeral, burial, or cremation, preferred guardians for your children, who will care for your pets etc.
Jointly owned property (except tenants in common) passes automatically to the surviving joint owner and does not form part of your estate. Your share in property as ‘tenants in common’ does form part of your estate.
In South Australia, your will must satisfy these legal criteria:
- Your will must be in writing
- The will should name an executor – a representative who will carry out your wishes.
- The will must name beneficiaries who will inherit your property
- The will must be dated.
- The will must be signed by you and witnessed by two (ideally independent) adults.
It will help your executor if you keep notes and other important documents, and a record of your digital assets (cryptocurrency, files, emails, social media account login details). Ask us about preparing a Green Box with all your important estate documents.
You can choose any adult with legal capacity to be your executor, and this doesn’t exclude them from being beneficiaries. You can appoint more than one executor or an alternate executor to act if the first is unable or unwilling.
Why Is It Important to Have a Will?
When you make a will, you’re saving your loved ones from having to deal with added emotional, legal, and even financial stress of your estate while grieving your loss. You can ensure that your assets go to the people you choose. Without a will, the law of intestacy will determine how your estate is distributed.
At FJS lawyers, we provide advice about your circumstances and prepare your will to accurately reflect your wishes, comply with legal requirements, and assess and record your legal capacity at the time you make your will. Feel free to contact us now to make your will.
At What Age Should You Get a Will?
Once you’re 18 and you have legal capacity, you should get a will. Legal capacity means that you understand what a will is, what making one means, and you can effectively communicate your wishes. A person under 18 years can make a will if they are or have been married, or otherwise with the permission of the Supreme Court.
Superannuation is not always paid into your estate. You may wish to make a binding nomination for your super to be paid into your estate, or for your super to be paid to a specified beneficiary.
What Happens if I Die Without a Will?
If you die without a will, your assets will be distributed according to the law of intestacy, not in accordance with your wishes.
It is best to obtain legal advice tailored to your specific circumstances when deciding whether to make a will or rely upon the law of intestacy, but generally:
- If you have a spouse and no children, your spouse will inherit your entire estate.
- If you have a spouse and children, your spouse will inherit a specified portion of the estate, and the children will inherit another specified portion, equally.
- If your beneficiaries are minor children, their share will be held in trust by the Public Trustee until they are 18 years old (if they have legal capacity).
- If you have no spouse or children, your estate is shared equally between your parents.