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Having a properly prepared Will is one of the most significant tasks you will undertake in your life. Making a Will can be simple, but for your Will to be valid, it needs to satisfy a number of legal requirements.
What can Wills and Estates Lawyers help me with?
Our team of wills & estates lawyers are highly experienced in the Will planning & preparation area. We are able to ensure that all vital requirements are fulfilled, and advise you on factors to consider, ensuring that upon your death, your estate is distributed in accordance with your wishes.
Our Wills and Estates Lawyers can also make recommendations regarding:
- enduring power of attorney
- enduring guardianship
- superannuation fund beneficiaries
- establishment of trusts.
We will act on your instructions and put all necessary arrangements in place.
What assets are not covered by a Will?
- Life insurance cover -Not available for disposition under Will if you have a beneficiary (other than your estate) nominated.
- Superannuation – Not available for disposition under Will if you have a beneficiary (other than your estate) nominated.
- Joint assets – pass to survivor – do you own your own home as a “joint tenant” or a “tenant in common”? -you should know!
- Family trusts -not subject to will (but control of trust might be).
What are the dangers of not having a will?
- your assets do not benefit the people or organisations you want
- your estate or beneficiaries pay unnecessary tax
- unnecessary difficulty, stress, delay and expense to your family and friends.
Your intended beneficiaries may miss out if:
- your spouse or partner remarry
- your children are too young or immature to inherit
- disputes arise; legal costs and the delay of litigation reduces the value of your estate
Read our list of 10 reasons to think about making or updating a will.
What are the steps to get a will?
First step is to conduct a detailed analysis of what assets and liabilities you have.
The second step is a plan to deal with these assets in the way you wish, taking into account family circumstances, asset protection and business plan.
The third step is to draft a full set of documents covering all your legal needs, not just a simple will. These may include;
- a discretionary trust in your will or set up during your lifetime
- wills of varying complexity
- enduring power of attorney for financial, property and legal decision-making
- appointment of enduring guardian for health, accommodation and lifestyle decision-making
- advanced care directive
- adjustments to asset ownership plus superannuation or life insurance nominations
- business succession planning.
*Sorry, we do not accept requests for legal aid at this time.