Why create a will with lawlab?

Why create a will at all?

Having a will ensures that your assets are distributed in line with your wishes. If you have minor children, you can also make it clear who you would like to look after them in the event of your death and that of any other parent.

Without a will, the process required to settle your estate will be longer and more costly.

Should I use a will kit?

While a will kit might seem like a cheap option, there are many ways they can go wrong.
Will kits are intentionally broad so that anyone can use them, but this means they can be ambiguous, resulting in confusion and misinterpretation.

There are also certain requirements that are necessary for a will to be properly executed. If these requirements are not satisfied your will can be contested (resulting in lengthy and expensive court proceedings) or may even be invalid.

Lastly, there are factors outside of the will that need to be considered, such as:

• Are there people who are not benefitting from the will who may feel that they have a provision claim?
• Does the testator have the capacity to make a will?
• Is there the contemplation of marriage or divorce?

All of these considerations would be captured by a lawyer preparing a will, but would be omitted from a will kit.

Why create a will with lawlab?

Lawlab’s standard will is a simple and affordable legally effective document. Our wills advisor will take your instructions for your will and provide assistance in a straightforward 15-minute phone call. If you’re a conveyancing client, the will can be paid for at settlement of your conveyancing transaction.

We also offer a comprehensive will service if your affairs are more complicated. For example, the following can be considered and documented:

• Are there certain advisors that you wish your executors to consult, such as an accountant or stockbroker?
• Are you a trustee, appointor or principal of a trust?
• Do you hold shares in a privately owned company?

It’s also possible to draft a will that will create a testamentary trust upon your death, which may have income tax advantages, or be an attractive option for minors or beneficiaries who may face bankruptcy or difficult family or domestic circumstances.

As part of our wills service, lawlab can store your original will in our vault, free of charge, so you don’t need to worry about misplacing it, or it getting damaged in a fire or flood, and it will save your executor digging through your paperwork trying to find it.

When should I create a will?
Now. If you have assets in Australia, such as real estate, then now is the best time to create a will.

If you’re a new client you can call us on 1800 529 522 or send us an email at wills@lawlab.com.au requesting a call from our wills advisor. If you’re an existing client, just speak with your legal advisor.

No-one knows what’s around the corner, but with a will from lawlab, you’ll know your loved ones will be provided for.

Emma Bridge

Emma is the wills advisor at Lawlab. She has a Bachelor of Arts in Law and Criminology, a Diploma in Law from the University of Sydney and a Graduate Diploma in Legal Practice. She has over a decade of business experience and brings her thirst for knowledge and dogged work ethic to our team. Emma has two small children with whom she enjoys going on adventures.