{"id":10610,"date":"2023-10-14T22:29:32","date_gmt":"2023-10-14T11:29:32","guid":{"rendered":"https:\/\/chuatan.com.au\/?p=10610"},"modified":"2023-10-14T22:30:09","modified_gmt":"2023-10-14T11:30:09","slug":"guide-to-creating-and-understanding-wills","status":"publish","type":"post","link":"https:\/\/chuatan.com.au\/en\/10610\/","title":{"rendered":"\u00a0Guide to Creating and Understanding Wills"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"10610\" class=\"elementor elementor-10610\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0f7e62b e-flex e-con-boxed e-con e-parent\" data-id=\"0f7e62b\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2df710e elementor-widget elementor-widget-heading\" data-id=\"2df710e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"> Guide to Creating and Understanding Wills<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8c1b69e e-flex e-con-boxed e-con e-parent\" data-id=\"8c1b69e\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-edc7bcf elementor-widget elementor-widget-text-editor\" data-id=\"edc7bcf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Understanding the Purpose of a Will\nA will is a crucial legal document that outlines how an individual desires their assets or estate to be allocated after they pass away. It provides clear directions to those tasked with distributing these assets.<\/span><\/p><p><span style=\"font-weight: 400;\">Eligibility for Drafting a Will\nTypically, individuals who are 18 years or older and possess sound mental judgment can draft a will. However, individuals younger than 18 are only permitted to do so under certain circumstances, like if they're married or receive a special court order.<\/span><\/p><p><span style=\"font-weight: 400;\">Assets You Can Include in a Will\nYour estate essentially comprises all possessions you have at your time of passing, encompassing liquid assets like money, stocks, and savings. Within your will, you have the flexibility to specify:\nTangible assets: homes, vehicles, money, stocks, cash\nRights and authorities: for instance, nominating a trustee for a family trust\nPersonal belongings: items like jewelry, literature, photographs. Ensure these items are distinctly recognizable for smoother distribution.\nAdditionally, your will can cover specific wishes concerning:\nDisposition of your remains\nIntent for organ donation\nPreferred guardians for any minor children (though courts hold the ultimate say).<\/span><\/p><p><span style=\"font-weight: 400;\">What a Will Doesn't Cover\nIt's essential to note that not all assets transition through a will upon one's passing. Some examples are:\nProperty co-owned as joint tenants, which gets transferred by 'survivorship'\nAssets connected to your retirement funds or insurance - these usually have designated beneficiaries\nAssets in family businesses or trusts. While you might control them, you don't outright own them. Thus, a will should convey the control of these entities to appropriate trustees or beneficiaries. Optimizing your will is crucial to ensure that your desires are executed accurately after your passing. If you're considering drafting a will or need guidance on estate planning, seek professional advice to ensure all your bases are covered.<\/span><span style=\"font-weight: 400;\">treat (to a meal etc)<\/span><a href=\"https:\/\/chuatan.com.au\/%e9%81%97%e5%98%b1\/\"><span style=\"font-weight: 400;\">click here<\/span><\/a><span style=\"font-weight: 400;\">Learn more, or<\/span><a href=\"https:\/\/chuatan.com.au\/%e8%81%94%e7%b3%bb%e6%88%91%e4%bb%ac\/\"><span style=\"font-weight: 400;\">Contact Us<\/span><\/a><span style=\"font-weight: 400;\">of the office.<\/span><span style=\"font-weight: 400;\">The address of Chua Ching Wai &amp; Co is Level 2, 262 Queen Street, Melbourne 3000. Telephone 96023988.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>\u5728\u6fb3\u6d32\u5982\u4f55\u8d77\u8349\u9057\u5631\uff1f \u7406\u89e3\u9057\u5631\u7684\u76ee\u7684 \u9057\u5631\u662f\u4e00\u4efd\u5173\u952e\u7684\u6cd5\u5f8b\u6587\u4ef6\uff0c\u6982\u8ff0\u4e86\u4e2a\u4eba\u5728\u53bb\u4e16\u540e\u5e0c\u671b\u5982\u4f55\u5206\u914d\u5176\u8d44\u4ea7\u6216\u9057\u4ea7\u3002\u5b83 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25],"tags":[],"class_list":["post-10610","post","type-post","status-publish","format-standard","hentry","category-25"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.2 (Yoast SEO v27.5) - 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