You might not think you need a will, but it’s one of the best ways to protect your family and loved ones. Without one, your assets could end up in unexpected hands, and settling your affairs could become a stressful burden for those you care about.
Whether you’ve built up a significant estate or just want to ensure your children are looked after, having a legal will is one of the most important financial decisions you can make. At FMS Group, we help Central Coast and North Shore families put the right plans in place for peace of mind.
What is a Will?
A will is a legal document that sets out your wishes for how your assets should be distributed after your death. It names the people or organisations you want to inherit your estate and appoints an executor – someone you trust to carry out these instructions carefully.
Your will can also cover important decisions like who will care for your children if they’re under 18 or any specific wishes about your funeral arrangements.
A will is more than just paperwork – it’s your voice when you’re no longer here.
What Happens If You Don’t Have a Will in NSW?
If you pass away without a valid will (this is known as dying intestate), NSW law decides how your assets are divided – often using a rigid formula that may not reflect what you wanted. This means your assets may go to people you didn’t intend or leave out people who matter to you. It also removes your control over who manages the estate and who looks after any minor children.
Dying intestate doesn’t just take away control – it can lead to costly delays, legal fees, and even family disagreements during an already emotional time. This is why residents on the Central Coast and Sydney’s North Shore need a will.
When Should You Make a Will?
The short answer: as soon as possible! Many people delay writing a will, thinking they don’t have enough assets or that it’s something to do later in life.
But a will is essential for anyone with:
• Children
• Property or investments
• A business
• Superannuation or life insurance
• Specific wishes about who should receive what
Major milestones – like buying property, getting married (or divorced), having kids or starting a business – are all strong signals that it’s time to write or update your will.
What Should You Include?
A well-prepared will should clearly state:
• Your full legal name and address
• The name of your executor
• A list of assets and how they’ll be distributed
• Guardianship instructions for children under 18
• Any specific gifts, donations, or personal items you want to leave
• Clear instructions about funeral wishes, if desired
Don’t forget: superannuation and jointly owned assets may need separate planning since they don’t always fall under “estate” rules!
Who Can Help You Prepare a Will?
DIY kits might look convenient but can cause costly errors – even invalidating your wishes entirely! Working with professionals ensures everything is legally sound and tax-smart so there’s no room for confusion later on.
At FMS Group, Christine Hornery (an accredited Trust & Estate Practitioner) offers expert help with wills ranging from simple setups to complex testamentary trusts alongside Powers of Attorney and Guardianship appointments – ensuring all aspects of financial planning are covered seamlessly!
How Often Should You Review Your Will?
Wills aren’t a once-and-done task. Life changes fast! You should review your will regularly, especially after major life events.
Changes that may prompt an update include:
• Marriage, divorce, or separation
• Welcoming kids or grandkids
• Death of a beneficiary or executor
• Major changes in your assets or business structure
• Relocating to a new state or country
If your will is no longer aligned with your current wishes or circumstances, it’s time for a revision.
Can a Will Be Contested?
Yes – even with a professionally prepared will, there is always a possibility that someone may contest it. In NSW, eligible persons such as a spouse, child, or dependent can make a claim if they believe they were unfairly left out or not adequately provided for. This is known as a family provision claim.
That said, a well-drafted will significantly reduces the risk of successful challenges. At FMS Group, we work with trusted legal professionals to ensure your will is clear, considered, and properly documented. We also encourage our clients to communicate their intentions with loved ones wherever possible — transparency can go a long way in preventing future disputes.
While you can’t completely prevent a challenge, you can create a legally sound document that makes your wishes clear and gives your estate the strongest chance of being distributed as you intended.
Don’t Leave It to Chance
Making a will isn’t morbid – it’s empowering. it’s about taking control of your legacy. A clear, up-to-date lets you decide how loved ones are cared for while ensuring every dollar goes where intended without stress/disputes later on.
At FMS Group, we help you plan ahead with compassion, clarity, and care. If you’re ready to take this important step or want to review an existing will, get in touch with our experienced team today.
Visit us at our Long Jetty or Gordon offices to discuss why you need a will.
Call 1300 982 499 to book your consultation.
Let’s help you protect what matters most.