Wealthy or not, here's why everyone should have a will

Many Australians underestimate the importance of having a will, believing they are not wealthy or old enough to need it. But experts say you are never too young to have one.

Source: Getty Images/GCShutter

Highlights

• Research shows that one in two Australians do not have a will in place.
• Experts say cultural reasons, misconceptions and even superstitions behind people avoiding a will.
• Assets are distributed according to the default state legislation in case of death without a will. 

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