Our competent estate planning solicitors here at Executive Law Group are offering a Wills and Estate Planning Package for the month of September, designed to help you structure your affairs and get on top of your testamentary needs.
For $300, you will receive a standard Will and a detailed consultation with a lawyer, including answering all of your estate questions.
A Will is a legal document that allows you to clearly identify your wishes for the distribution of your assets after your death. A Will provides protection of your assets and ensures that they are distributed according to your wishes.
A Will is probably the most important document you will ever sign. If you die without a Will; this is called dying intestate. If you die intestate your estate will be distributed to eligible surviving relatives according to the rules of the Succession Act 2006 (NSW).
This could be very different from what you intended to happen. The general order of inheritance is spouse, children and grandchildren, parents, and so on. This can be a challenging and arduous process for your loved ones that could be avoided by creating a Will before you die.
If you don’t have any relatives alive other than your first cousin, your estate will go to the government. This is not ideal as most people would like their assets to be distributed to loved ones in accordance with their wishes rather than the provisions of a government act, but this is not possible if they did not get around to making a Will.
If you are a next of kin experiencing some difficulties in the process, get in touch with us. Executive Law Group can help you.
You can make a Will if you meet the following requirements:
Being of sound mind means that you understand the nature and effects of the Will that you are making. It also means you can decide what you want to happen to your property when you die.
Note: For people with poor memory or mental capacity conditions, a doctor’s advice may be required.
For a Will to be valid, it must meet the following requirements:
Note: The beneficiaries of the Will cannot be witnesses.
A Will has formal requirements to be considered valid. It is recommended that your Will is prepared by a Wills and Estate expert.
People often make the mistake of making a Will with no regard to the legal template, which affects the validity of the document. A lawyer can help you review, and make sure that everything you need is covered and the Will is done properly.
You can also nominate a lawyer as your executor or as your enduring power of attorney.
