Making a Will is one of those things that no-one likes to think about.

However, when it comes to it, having a Will can make a huge difference to the financial security of the loved ones you leave behind.

Over the years, there have been a number of misconceptions about Wills due to the wide availability of information online.

As a result, many are making the wrong move on how to write a valid Will or how to plan their estate and finances.

Here are some of the common myths and the facts behind it.

MYTH #1: If I die, my husband/ wife will get everything

This is not entirely true. If you die without a Will, this is what’s known as ‘intestate’ and as a result the distribution of assets in your estate will be governed by the Distribution Act 1958 (Amended 1997).

In most cases, this usually means that it goes to your spouse and children if you have them but it could also mean that it goes to your ex wife or husband or even your parents.

MYTH #2: I don’t need a Will, I don’t own enough

Do not underestimate the value of your estate as it could be more than what you think.

You may have benefits in superannuation or life insurance policies and may even be a future beneficiary of an estate.

Even if you don’t have much money or a lot of assets, having a Will can remove the stress from your family and ease the process when you’re not around.

MYTH #3: I had a Will drawn up years ago so I can just amend it myself.

Once a Will has been signed it cannot be simply edited and still remain valid.

To amend a will, you will need to draw up a separate legal document called a codicil.

However, if you are planning to make more than a small alteration to your Will, it may be easier to have a new Will drawn up.

For professional advice and full peace of mind on creating a Will, head on to www.rockwills.com