Busting Common Myths about Wills: Ask Your EstatesPlus Lawyers

Are you planning to create a Will for all your assets? Do you wish to distribute your property equally among the people of your choice? Do you have specific plans when it comes to creating a Will? Are you as clueless as most people regarding creating a Will and appointing someone as an executor of your Will? You are not alone. There are millions of people who don't know a lot about the law of Wills, trusts or Probate. These are some of the topics none of us wants to deal with. However, we must be aware about the common myths regarding creating a Will and other legal procedures. There is a plethora of misconceptions and myths related to creating a Will. Here is a list of misconceptions you must steer clear of. 

1. If someone dies without a Will, the state gets everything 

Lawyers at EstatesPlus often get queries about this issue. There can be a lot of reasons to write a Will but worrying about the state snatching your family's inheritance is not one of them. If you die without a valid Will, state law kicks in. Every country has its own rules as to who inherits what. 

Most of the time, your spouse and children are first in line to inherit your property. The assets go to the state only when no relatives can be found. 

2. It takes years to Probate an asset 

There is a lot of confusion regarding Letters of Administration and probating an asset. People think it takes years to Probate an asset but that is never the case. Almost all estates don't take much time to resolve. The only delay is the period mandated by state law that gives creditors time to file claims. 

3. Creating a Will is expensive 

Long gone are the days when this myth might have had some truth to it. Those were the times when people didn't have the opportunity to compare prices and the services of estate planning attorneys. But with the coming of legal teams like EstatesPlus, making a Will doesn't have to be expensive. They are the most affordable option available for all types of estates. 

4. Making a Will is complicated 

If you are one of those people who shy away from creating a Will assuming it is a complicated process, you can make the process manageable by getting help from professional Probate court lawyers in Perth. Putting your wishes into a comprehensive Will, complete with advanced provisions, can be quite a simple process. 

5. Only wealthy/sick/old people need a Will 

EstatesPlus gets asked this a lot as well. If you have wishes regarding the distribution of your assets in a way you like, then choosing to make a Will is the best option. 

6. I don't need a will because I'm married 

Most people think that if they are married, their assets will automatically go to their spouse on their death. Even though this might be true concerning joint assets, it can never be true with regard to the assets you own solely. If you die without making a Will, all assets are divided between your spouse and children, and if your children are under 18, their share will be controlled by higher authorities. 

You can count on EstatesPlus for debunking all the myths related to creating a Will and applying for Probate. We hope that this blog helps you clear all your doubts.