No one likes to think about what happens after they’re gone, but having a will is one of the most important things you can do to protect your family and make sure your wishes are followed when you die.
A will makes it clear who should get your assets and belongings, who will look after your affairs, and how things should be handled. Without a will, the law will make these decisions for you which can lead to all sorts of complications for family, friends and loved ones left behind.
Who Gets What Under Queensland’s Intestacy Laws?
If you die without a will in Queensland, your estate is distributed according to the Succession Act 1981 (QLD). The law follows a set formula, which often doesn’t reflect what you would have wanted.
If you have a spouse or a de facto partner and no children, they will inherit everything which may include the family home, superannuation, portfolio, vehicle etc.
If you have a spouse and children, under the law, your spouse will get part of your estate, household items, and a share of the rest – your remaining estate will be split between your children.
If there’s no spouse, your children divide the estate equally. If you don’t have a spouse or kids, your estate will go to your parents, then siblings, then distant relatives. If no family members can be found, the Queensland Government takes the lot.
This might sound simple enough, but it can get messy. Blended families can be complicated, and if you have stepchildren or an unmarried partner who doesn’t meet the legal de facto definition, there is potential that they could be left with nothing. The law also doesn’t make allowances for close friends or charities. So, if you wanted to leave something to a mate or a good cause, that won’t happen unless it’s in writing.
The Trouble with Dying Without a Will
If you die without a will, someone needs to apply to the Supreme Court for Letters of Administration to handle your estate. This takes time, costs money, and can cause serious headaches for your loved ones. Without clear instructions, family members might fight over who should be in charge, which assets go where, or who gets sentimental items. Disputes can drag on for months or even years, leaving your estate tied up in legal battles and reducing what’s left to be inherited.
The longer it takes to sort things out, the more expensive it gets. Court applications, legal fees, and potential challenges to the estate can all add up, taking a big chunk out of what should be going to your family. Having a will in place means avoiding all this stress and making things as easy as possible for your loved ones.
Why You Should Have a Will
A will isn’t just about dividing your assets, it’s about making sure your wishes are followed, and your family is looked after. It allows you to:
• Decide who inherits your property, superannuation, money, and personal belongings
• Choose someone you trust to manage your estate
• Provide for loved ones, including stepchildren and non-traditional relationships
• Make gifts to charities or friends
• Appoint a guardian for your children if they’re under 18
If your circumstances change, such as getting married, divorced, or having kids, you need to update your will to make sure it still reflects your wishes and your new circumstances. It’s a simple step that can save your family a world of stress in what is already a stressful and emotional time when a family member passes.
Why an Enduring Power of Attorney (EPOA) is Just as Important
A will takes care of what happens after you die, but what if something happens while you’re still alive? If you become too sick or injured to make decisions for yourself, an Enduring Power of Attorney (EPOA) lets you choose someone to step in and handle things on your behalf.
Without an EPOA, your family may have to go through the courts to get permission to manage your affairs – a slow, expensive, and stressful process. With an EPOA, you decide in advance who will look after your finances, health care, and personal matters if you’re unable to.
An EPOA will help to make sure:
• Your bills, mortgage, and everyday expenses are taken care of
• Someone you trust makes medical and lifestyle decisions on your behalf
• Your financial affairs don’t fall into disarray if you become incapacitated
• Family disputes over decision-making are avoided
It’s one of those things that you don’t think you need until it’s too late. Appointing someone you trust as an Enduring Power of Attorney will save you and your family a lot of future heartache.
Don’t Leave It to Chance
While no one likes to think about losing the ability to manage their own affairs, creating a will and setting up an Enduring Power of Attorney is a proactive step that can protect your interests, provide peace of mind, and ensure that your personal, financial, and healthcare decisions are handled by someone you trust if the need arises. It’s often a smart move for anyone concerned about their long-term health and well-being.
Contact Bush to Beach Legal
At Bush to Beach Legal our experienced wills and estate planning lawyer, Mel Crosby is available to help you get your affairs in order. Contact Mel on 1300 911 137 or email her to organise an appointment. Your family will thank you for it.