Do you have a Mortgage? Do you have a Will?
A recent study surveyed 1,000 Australian mortgagors and found that nearly half (48%) of those surveyed do not have a Will.
18 to 40 year olds said they were motivated to get a Will after buying property whilst older respondents created a Will after having children, getting married or entering into a de facto relationship. Notably 31% of mortgagors under 30 years of age do have a Will.
The overwhelming reason for not having a Will was, 61% said they simply hadn’t gotten around to it while 15% didn’t think they needed one and 13% believed their assets would automatically go to their partner or family when they die.
Dying without a Will could leave assets open to a claim from family members seeking a greater share of the estate of the deceased.
Contact one of our friendly staff at Bambrick Legal today:
Enjoyed this article? Check out more: