Making a Will seems to be a task that is continually put off. Yet a valid, legal Will is the only way to ensure your assets are distributed according to your wishes.

A Will is a legal document that names your beneficiaries. These can be family members, friends, a domestic partner or charitable organizations who will receive your assets as you direct.

Your property and possessions include everything you own; your home, property, car, money in the bank, insurance policies, shares, jewelry, pictures, furniture and the list goes on. Making a Will protects your assets, making certain they will be shared out in the way you want after you die.

A valid Will is one that has been accepted by a court and put into effect by a grant of probate. To be valid, your Will must be:

If your Will is not made in this manner it may not be enforceable; the court has the power to grant or not grant probate (confirm that the Will is valid) and your property could be disposed of as if you had not made a Will.

Consider the years of hard work it has taken you to build your assets (known as your "estate"). A will is not about dying, it is about providing for the future of your loved ones. Dying without a Will (dying "intestate") can be costly and stressful at what is already a difficult time.

It is essential to make a Will if you are concerned about who will receive your assets and belongings after you die. It is especially important if you have a family or other dependents, as without a Will statutes will dictate how your assets will be distributed after your death and even who will look after your children, if they are still minors.

A Will can be used to appoint a guardian to look after your children until they are old enough to look after themselves.

Having a Will gives you the opportunity to nominate an "executor," that is, the person who will take charge of your affairs after your death.

If you die without a Will and have no family or relatives, then your estate will be forfeited to the Government. But what about a charitable or religious trust that you may have supported all your life they may not benefit from your estate at all?

If you are living with a domestic partner but unmarried, without a valid Will, your partner may not receive any of your assets.

Without a Will your assets will be frozen until an administrator is appointed. Not having a Will can delay this process. Remember that anyone financially dependent on you will not have access to your income and capital and hence have no income to live on until an administrator is appointed, regardless of their financial need.

The cost of a having a Will prepared by a lawyer can vary depending on the complexity of it and the extent of your assets. The expense is normally minimal compared to the benefits your beneficiaries receive from having a valid, legal Will.