Friends With Money #26: Making your last will count: why you need one and what to think about

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A last will and testament is probably something that most of us would rather avoid thinking about, but it could be one of the most important documents you'll ever have to complete.

So how many of us actually have a valid will, and why is it so important to have one in place despite your age and earthly possessions?

In this episode of the Friends With Money podcast, managing editor Julia Newbould is joined by Peter Bobbin, principal lawyer at Coleman Greig Lawyers, to talk about wills, why they are important, and what to consider when putting one in place for your estate.

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Julia Newbould is the managing editor of Money magazine and is one of the hosts of the Friends With Money podcast. She was previously editor of Financial Planning and Super Review magazines; managing editor at InvestorInfo and at Morningstar Australia. Julia co-authored The Joy of Money, a book on women and personal finance. She holds a Bachelor of Economics from the University of Sydney where she serves on the alumni council.

Peter Bobbin has more than 30 years' experience as a lawyer and holds degrees in accounting and law from UNSW and a Master's in taxation from UWS. He is a Chartered Tax Advisor and the Australian chair of the Society of Trust and Estate Practitioners. A principal of Coleman Greig Lawyers, Peter is a former accountant and former lecturer in superannuation and state taxes at UWS.