Making a Will in NSW: What to Include and When to Update It
A will is not only something to consider later in life. It is a way to record who should receive your assets, who should administer your estate and how you want important decisions handled after your death. For people with a home, savings, a business, a partner or children, that clarity matters.
Who should have a will?
Most adults should consider making a will, including young adults who may assume they have little to leave. In NSW, a person generally needs to be at least 18 and have the required testamentary capacity to make a will, subject to limited exceptions. Your wishes today do not need to anticipate every future life change. They need to be clearly documented and reviewed when your circumstances change.
What should a will cover?
A will commonly names the executor, identifies beneficiaries and explains how estate assets should be distributed. It can provide for substitute beneficiaries, specific gifts, and arrangements for beneficiaries who are young or may need additional support. If you have children, it may also record your wishes about a testamentary guardian. The particular structure depends on your circumstances.
Not every asset necessarily passes under your will. Jointly held property and superannuation death benefits may require separate consideration. The legal ownership of each asset matters.
Who should you choose as executor?
An executor administers the estate and carries out responsibilities under the will and law. Choose someone trustworthy, organised and prepared to handle practical matters, communicate with beneficiaries and seek help where appropriate. Being a beneficiary does not automatically prevent a person from serving as executor. What matters is whether they are suitable for the role and whether conflicts or family tension need to be considered.
What makes a will legally valid?
The general NSW formalities include having the will in writing and signing it with the required witnesses. There are detailed rules about who signs, when witnesses must be present and issues affecting witnesses who benefit. Capacity, undue influence and the clarity of the terms can also matter. A homemade form can appear straightforward while leaving critical details uncertain.
What happens if you die without a will?
If a person dies without an effective will, the distribution of their estate is generally determined by intestacy law rather than their own written directions. The estate administration process may also differ. Family members may have to establish who is entitled to administer the estate and deal with additional uncertainty at an already difficult time.
When should you update your will?
Consider a review after marriage, separation, the birth of a child, a substantial property purchase, a business change or the death of someone named in the document. Some events have particular legal consequences for existing wills. A regular review also helps ensure the people you have nominated are still suitable.
What happens at an appointment to make a will?
A solicitor will usually ask about family relationships, assets, people you want to benefit and the person you would trust as executor. You do not need to arrive with every answer settled. The conversation can help identify decisions and explain the effect of different options.
Ready to put your wishes in writing?
A thoughtful will makes your intentions clearer and gives your family a document to turn to when it matters. Dawson Pouwhare can help you prepare or review your will and related estate planning documents.
Legal disclaimer: This article contains general information about Australian and NSW law and is not legal advice. It may not reflect changes in the law or your individual circumstances. You should obtain advice about your situation before acting on this information.
