A Will is an important document that comes into effect when you
die. The person who makes the Will is known as the testator. Your
Will sets out your wishes and directions in relation to the
management and distribution of your assets at the time of your
death (called your estate).
Your estate is made up of your assets minus your liabilities.
Determining what assets form part of your estate depends on how
they are owned at the time of your death. Different ownership types
have different outcomes for your estate. For that reason when you
formulate your Will it is important to discuss how your
assets are owned with a lawyer who specialises in estate
planning.
The person or persons who are responsible for managing and
distributing your estate when you die are known as the executors.
Your executor is given powers that enable them to deal with your
estate. Their role is very important and can often be time
consuming and complicated. It is important that you choose
