Why You Need a Will

What happens if you die without a will? We get into the real-life consequences of not having your estate plan sorted -family fallouts, lost inheritances, and fortunes in limbo. We go through what makes a valid will, how to get one done properly, and why putting one in place now could save your loved ones years of pain later.On this episode, we discuss:(00:00) Intro(00:48) Why Most People Put Off Making a Will(02:57) A Real-Life Family Fallout Over a Will Change(06:38) $3M Estate Dwindled Down By Legal Fees(08:20) What Actually Goes Into a Will?(10:58) Capital Gains Tax & Inheritance, What Happens with Shares, Property, and Tax When Someone Dies(13:45) Why a DIY Will Could Cost You Everything(15:23) Dealing with State Trustees(17:32) When No Will Could Mean the Wrong Person Gets the Money(19:05) Life Insurance vs. Will(21:52) Inheriting Property with a Mortgage: What Happens Next?Check out the free resources from Inovayt here.Send us an email: [email protected] Numbers Game is brought to you by Future Advisory & Inovayt.Hosts:Nick ReillyJason RobinsonMartin VidakovicThis podcast is produced by VIDPOD. Check out our new website thenumbersgamepodcast.com.au. Browse the full show catalogue, jump straight to specific moments on the topics you love, or leave us a voice note. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.