What are the types of Wills?

There are several types of Wills.  These include: Simple Will – These are usually only suitable for Will makers with limited assets who are single, in a first marriage or de facto relationship with children from that relationship only and who have a harmonious family. Complex Will – These require a more complicated formula for [...]

By |2021-05-05T10:28:40+09:30May 5th, 2021||0 Comments

What happens to superannuation in a Will?

Superannuation is not usually included in your Will because your super is held in a trust by the trustee of your super fund and, technically, is not an asset that you in fact and in law own. You need to ensure your super fund is kept up-to-date with instructions as to what you would like [...]

By |2021-05-05T10:27:54+09:30May 5th, 2021||0 Comments

What are the risks of a homemade/online Will?

Although there are options for you to write your own Will using online or do-it-yourself kits there are risks if the document is not properly prepared.  Some of the risks include: Multiple people writing Wills can result in questions about the validity of the Will, particularly if different handwriting or pens are included. Signing of [...]

By |2021-05-07T08:46:21+09:30May 5th, 2021||0 Comments

What is the role of an Executor?

The Executor is essentially the representative for you after you die. Their main role is to finalise your personal, financial and legal affairs. The main responsibilities of an Executor are to: • apply for a grant of probate if necessary, • preserve the assets for distribution, • identify and gather the estate assets, • pay [...]

By |2021-05-07T08:46:01+09:30May 5th, 2021||0 Comments

What can make a Will invalid?

There are a number of reasons a Will can become invalid and we recommend you always seek professional legal advice on your Will and Estate matters.  The following are just some instances that would make the Will not valid: You make another Will, You lacked the mental capacity to make the Will, Someone else used undue [...]

By |2021-05-05T10:23:04+09:30May 5th, 2021||0 Comments

Who can sign a Will?

Your Will must be signed by you in the company of two adult witnesses.  The witnesses sign indicating that they can verify your identity and mental capacity to create a will.  These witnesses should preferably not be beneficiaries or Executors of your estate.  They must also be present in the room at the time you [...]

By |2021-05-07T08:44:47+09:30May 5th, 2021||0 Comments

Who can be an Executor?

An Executor is the person who carries out the terms of your Will and manages your other affairs after you die, including settling unpaid debts, notifying relevant people about your death and even filing a final tax return. You can name a family member, friend or even a lawyer to serve as Executor of your [...]

By |2021-05-07T08:44:32+09:30May 5th, 2021||0 Comments

Who can be a beneficiary?

The beneficiary of a will can be a family member, partner, friend, charity, business, or even a trust. It’s also wise to include a contingent beneficiary in your will, who will receive the assets when the primary beneficiary is dead or unable to receive it.

By |2021-05-05T10:17:32+09:30May 5th, 2021||0 Comments

What would my Will include?

Wills are very personal, but a Will generally outlines: Who you want to receive your assets and property, including identification of names as well as amounts; An indication of who you do not want to get assets or property; Who you wish to care for your children; The person or people you would like to [...]

By |2021-05-07T08:48:08+09:30May 5th, 2021||0 Comments
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