A Will is one of the most important legal documents you will ever make. Despite this, many people either do not have a Will or have one that is outdated or invalid. This article explains what a Will is, what it usually contains, and why having a properly drafted Will matters.
What Is a Will?
A Will is a legal document that sets out your instructions for what happens to your estate when you die. Your estate includes your assets (such as property, bank accounts, investments, and personal belongings) and your liabilities.
A valid Will allows you to:
- Decide who receives your assets
- Appoint a trusted person to manage your estate
- Make provision for children or dependants
- Reduce disputes and delays after your death
If you die without a valid Will, you are said to have died intestate. In that case, your estate is distributed according to a statutory formula under NSW law, which may not reflect your wishes and can cause significant stress, delay, and expense for your family.
What Normally Goes Into a Will?
While every Will should be tailored to the individual, most Wills in NSW include the following key components:
1. Revocation Clause
This clause confirms that the Will revokes all previous Wills and testamentary documents. It ensures there is no confusion about which Will applies.
2. Appointment of Executor
An executor is the person responsible for carrying out your wishes, dealing with your assets, paying debts, and distributing your estate. You can appoint one or more executors and also name substitute executors if your first choice cannot act.
3. Funeral Wishes (Optional)
Some people include non-binding funeral instructions. While these are not legally enforceable, they can provide helpful guidance to loved ones.
4. Gifts and Beneficiaries
This section sets out:
- Specific gifts (for example, jewellery, cash sums, or vehicles)
- The distribution of the “residue” of your estate (what remains after debts and gifts are dealt with)
- Contingency arrangements if a beneficiary dies before you
5. Children and Guardianship
If you have minor children, a Will can nominate guardians to care for them. This is a critical consideration for parents.
What Is an Attestation Clause?
The attestation clause appears at the end of the Will and is essential to its validity.
In NSW, for a Will to be valid:
- It must be in writing
- It must be signed by the Will-maker
- The signature must be witnessed by two witnesses, present at the same time
- The witnesses must also sign the Will
The attestation clause records that these legal requirements have been met. Errors with witnessing are one of the most common reasons Wills are challenged or rejected, which is why professional supervision is important.
When Should You Update Your Will?
You should review your Will if:
- You marry, separate, or divorce
- You have children or grandchildren
- Your financial position changes
- You acquire or sell significant assets
- An executor or beneficiary dies
Final Thoughts
A Will is not just about distributing assets—it is about protecting your family, reducing uncertainty, and ensuring your wishes are respected. Proper drafting and execution under NSW law is critical.
If you do not already have a Will, or if your circumstances have changed, obtaining tailored legal advice is one of the most important steps you can take.
Please give our friendly team at Sylvania Legal and Conveyancing a call — we’re happy to help you prepare or update your Will.
Telephone: (02) 9544 6443
Email: info@sylvanialegal.com.au
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