Whilst money and investments are important components of an estate, high sentimental assets can sometimes matter the most. Writing your Will with these family heirlooms in mind ensures that you and your family get the peace of mind you deserve.
Learn exactly how to include sentimental assets in your online Will, how to decide on beneficiaries and best practices to ensure a smooth transition after probate.
Just like a traditional Will, an online Will is a legally binding document that enables you to specify how you wish to distribute assets in your estate after you die. From money to investments to important funeral wishes, there's a lot to consider at this time, and it can feel overwhelming to ensure all sentimental details are accounted for.
Writing your Will with Safewill provides an easy and convenient way for you to write and update your Will from home, all with the support of specialist lawyers. Whilst they’ll be available to help with any queries, it can grant peace of mind to understand the legalities and practicalities of specific family heirlooms and your online Will, for yourself. Read on to get informed and prepared before you start.
Online Wills are now widely recognised as valid legal documents in Australia. For you, this offers peace of mind that your wishes will be fulfilled. For your family, it offers a smoother probate process and quicker support from your estate.
Leaving family heirlooms to specific beneficiaries can be a meaningful way to support family after you're gone. Whether it's a small item or large, valuable asset- an online Will makes it easier than ever to match specific assets to family members.
Safewill provides step by step instructions on how to include specific assets in your Will. But, to ensure these wishes are recognised in court, it’s important your Will is legally valid.
To maintain the legality of your online Will when including family heirlooms, consider the following:
a) Capacity: A valid Will-maker must have full mental capacity- meaning its best to write your Will ahead of time to ensure any future illness doesn’t bring your intentions into question.
b) Execution: It’s also essential that your Will is signed and witnessed in the presence of two witnesses
c) Updates: Ensure that any updates are made with the support of a legal professional, to ensure your Will remains valid after changes
Before incorporating family heirlooms into your online Will, take the time to identify and catalogue each item. Family heirlooms can vary widely and may include jewellery, artwork, antique furniture, historical documents, and sentimental belongings.
Carefully document each heirloom's description, history, and intended recipient to ensure clarity during the distribution process.
Specifying Heirloom Recipients
Clarity in your online Will is paramount, particularly when designating recipients for family heirlooms. Use the legal names and relationships of beneficiaries to avoid any confusion or disputes later on, and also consider naming alternative beneficiaries in case your primary choices are unable to inherit the heirlooms.
Secure and Accessible Storage
Selecting a reputable digital platform or service for creating and storing your online Will is crucial. Whilst Safewill offers a secure online platform to store your Will and safeguard your wishes, it is still important to ensure the signed copy of your Will is stored in a safe place which family and executors can access.
Safewill makes it easier than ever to include family heirlooms for specified beneficiaries. With our step-by-step platform, it's easy to make your wishes clear and probate smoother for the family you leave behind.