Reckon You Don't Need A Will? You're Wrong!

80% young QLDers have no will

7 March 2017

Article heading image for Reckon You Don't Need A Will? You're Wrong!

There's a push for Queenslanders to freshen up their will... or perhaps just take the steps to get one... after it was revealed just how slack we've been! 

According to university researchers, 50% of Queenslanders have an out of date will. That number is even worse when it comes to young Queenslanders (18-25 year olds), with 80% having no will at all. 

Public Trustee Peter Carne says it's common for young people to believe they don't need a will. 

"You hear that all the time. As a young person first of all, you think you're invincible, you think it's something you'll worry about when you're much younger. But if you're a young person with a job then with that job you'll have superannuation. With superannuation, you'll have a life policy"

"What you need to make sure is that you appoint executors so that any of those assets you do have, or even the debts you have, that you determine how those assets should be left. If you don't, you leave a real problem, a costly problem, for your loved ones to sort out."

The fact that you may not have a house or kids isn't a factor, either. 

"We all have responsibilities. Having a will is like any other responsible act we take as an adult. We all think about how we want to leave our organs if we should die... that's something that young people are very conscious of. What I'm urging all Queenslanders, and young Queenslanders in particular, is the importance also to have a will."

"You do have assets. Doesn't matter if you don't have a house.. you have a job, you have a bank account, you have a tax liability often. These issues can only be sorted out if you have a valid will." 

The Public Trustee is worried about the number of people taking the DIY approach to wills. 

"We should take them up to the Supreme Court one day, and have them sit in court and hear the disputes that come out of these store-bought or online wills."

"Unfortunately, it's a very difficult document unless you're trained in the area. A will is a complex legal document, it's what lawyers are trained to do"

Another misconception is that creating a will is an expensive exercise. In Queensland, the Public Trustee does it for free.. but you can always go to your own lawyer if you prefer. 

"At the end of the day, we just want Queenslanders to make a Will, and we want to spread the word that Wills are important,”

For more information click HERE or HERE or phone 1300 360 044

Listen Live!