People often avoid making a will because they feel uncomfortable thinking about their own death … or simply can’t be bothered.
But an expert warns leaving your family without a clear plan after your death can cause lasting emotional and financial damage for your loved ones left behind.
Wills are a document to specify your wishes in the event of your death, including guardians for your children, what happens to your possessions and who should manage your affairs.
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Safewill Founder and CEO Adam Lubofsky told 7NEWS.com.au you “almost certainly” need a will and “probably sooner than you think”.
“If you die without a valid will, you don’t get a say in what happens to your estate. The law does,” Lubofsky said.
“Each state and territory has its own intestacy rules, and they follow a fixed formula.
“There’s no executor either so, instead of one of your family members simply stepping in, someone has to apply to the Supreme Court for Letters of Administration before they can touch anything.
“That process is typically slower and more stressful than a normal probate.”
Lubofsky said “family conflict” is the biggest problem that arises when people don’t have a will in place, with new research commissioned by Safewill finding more than half of Australians from blended families are at risk of will dispute.
Lubofsky said the findings reflect something they unfortunately see play out often.
“Unfortunately, this can be a common occurrence for blended families,” Lubofsky said.
“When there are step-parents, step-siblings or a new partner in the picture, there are simply more people with a stake in the outcome, and more room for very different ideas about what’s fair.
“It’s an added layer of complexity that a lot of families don’t think about until it’s too late.”
When legendary pop musician Prince died in 2016 without a will, it triggered a six-year legal battle among his six siblings (one full sister and five half-siblings) and numerous people claiming to be relatives.
Millions of dollars were drained in legal fees and administrative costs before a settlement was finally reached for his $US156 million estate.
When singer-songwriter Aretha Franklin died in August 2018, her $US80 million estate also reportedly caused major issues for her family.
When the Queen of Soul passed away, it was initially believed she had no will at all.
Months later, multiple conflicting handwritten wills were found tucked away in couch cushions and cabinets. Her four sons spent years in court fighting over which documents were valid and how to divide her assets and royalties.
“When there’s no will, there’s nothing to point to and settle the argument,” Lubofsky said.
“That’s often when relationships break down for good, at exactly the point families need each other most.”
A number of different reasons play roles in why individuals don’t get their will sorted: cost, accessibility and knowledge gaps.
“But what most people don’t expect is it’s rarely about money,” Lubofsky said.
“In our research, procrastination is the single biggest reason people give for not having a will, well ahead of cost or not having enough assets.
“There’s a real emotional weight to putting your name on something that is contemplating your death and it stops a lot of people before they start.”
Until September 21, Safewill is offering people the opportunity to write their wills online for free, with each one reviewed by their legal team.
“We are on a mission to give every Australian an affordable and legally valid will. This is our way to help you protect your family and safeguard your life’s work,” the website states.
So what is Lubofsky’s advice for people who don’t have a will?
“Don’t overthink it, and definitely don’t let it overwhelm you,” Lubofsky said.
“An online platform like Safewill walks you through the process question by question, so you’re not staring at a blank page trying to remember everything that matters.
“You just answer what’s in front of you and the process makes sure nothing gets missed.”
