Tag Archives: why need a legal will

What is a Legal Will?

“A will is a document prepared by an individual who cares about taking care of his or her property aftermath to their death. A will document is written to clearly show the people who can inherit its ownership and interests and also in case of more than one person is listed for inheritance, the proportion in which the property and the interests has to be split and shared by all inheritors of it. Some of the people prepare their will documents well in advance at an age when their healthy and most of them prepare it either after they become too old to take care of their wealth or when they become bedridden or in case of any disputes and worst case in their death bed – when they are about to die.

A legal will is one that has been written and signed by an individual in presence of two witnesses and is audited by a lawyer, notarized by a notary public. A will document becomes legally valid when it is signed by the person for whom it is written and gets notarized in presence of two witnesses.

There are three parties involved in a legal will, the Testator – for whom the will is written, Executor -the person who shall execute the points and conditions put forth in it) and the Witnesses – people who don’t have any interest in that will and don’t benefit of its execution and are there to simply testify that they have seen it taking place – the signing of it by Testator.

There are ready made drafted will kit Australia available online, that are drafted by experienced will solicitors that are legally compliant. This makes the legal will document drafting process a very easy and quick one, especially for those who are running out of time to get it done.”