If you fail to make a will legislation will determine who gets your property and who gets to take care of the estate and distribute the property.
By making a will you can:
- plan who receives specified property
- make alternative arrangements for benefits to pass
- consider the taxation consequences
- appoint a person you trust to take care of the estate and distribute the assets
A will does not take effect until your death so you are free to do what you want with your property until then.
Circumstances change over time so you should regularly review your will.