It's not long now until the school summer holidays begin, and many of you will probably be thinking about your travel plans.
It's exactly the same here at Szabo & Associates Solicitors, which is why we were interested when we came across details of last year's Good Will Week campaign, in which the NSW Trustee & Guardian released research showing that 47% of Australians tend to be risk takers on holiday, and do things they maybe would think twice about at home.
These findings, said the Trustee & Guardian, highlight how important it is for Australians to ensure they have an up-to-date Will in place before they set off on their travels.
"Whether we are at home or heading overseas, none of us knows what is around the corner, so it is important for us to be prepared so we don't leave behind a logistical and emotional mess for our loved ones," commented Ruth Pollard, Assistant Director Legal Services, NSW Trustee & Guardian.
The research found that around half of those surveyed do not have a Will, although a separate study found that going on a foreign holiday would prompt around 20% of adults to make a Will before they went.
Ruth Pollard pointed out that having an up-to-date and legally valid Will is particularly important for parents with dependent children. Around 54% of parents apparently do not have a Will in place, and are therefore unlikely to have thought about important issues such as guardianship, education and welfare should the worst happen.
It is equally important to give careful consideration to the choice of executor for a Will, as this can be an onerous role that requires a degree of financial and legal knowledge.
"Travel insurance is something that should be mandatory before any overseas trip, but so should making sure you have an up-to-date Will," Ruth Pollard concluded.
We agree.
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Szabo & Assosiates Solicitors can offer expert help and advice on all estate planning activities, including Will writing, succession and probate. Contact us today on (02) 9281-5088 or fill in the contact form to the right of this page.