Lawyers specialising in Wills help parties prepare Wills. These are important legal documents that outline how a person’s assets are to be distributed following their demise. Beneficiaries of Wills receive entitlements in the form of portions of estate belonging to the testator (Will-maker). Estate administration and estate litigation involves complex arrangements and legal complexities.
In Australia, not everyone is aware about the importance of estate law, and engaging with lawyers specialising in Wills. When a party dies without a Will (dies intestate), their assets and property cannot be distributed based on their wishes and intentions.
There are intestacy laws that apply if someone does not have a Will. This, in turn, can lead to serious disputes among the beneficiaries and other family members of the deceased. Therefore, it is important not only for your sake, but especially for the sake of your loved ones that you have a valid Will in place.
Whether you have simple or complex assets, it is important to speak with lawyers specialising in Wills from JB Solicitors so you can plan out your estate today. In this article, we will explore the reasons why we should all make Wills, and other relevant points in relation to this topic.
Why Should You Make a Will?
Primarily, a Will can help a person ensure that they provide for your family and other loved ones even if they pass away. Given below is a list of reasons why you should consider preparing a Will with the help of lawyers in Wills as you can:
- Leave certain valuable items with certain people based on your wish
- Provide for the people that you care about and love
- Appoint an executor. An executor will administer the distribution of assets upon the passing away of the testator.
On the other hand, failure to make a Will means that you do not have any control over distribution of assets. Intestacy laws may result in the distribution of assets that is very different from what you have intended for your family. Generally though, the surviving spouse or de facto spouse gets the assets.
This leads to Will contests and disputes in the future regarding the deceased’s estate. Read on to find out the benefits of working with an experienced lawyer specialising in Wills.
Why Do I Need Lawyers Specialising in Leading Wills and Estate Lawyers?
A lawyer makes sure that all parameters are checked. A lawyer has expertise to ensure that a Will is correctly witnessed and executed resulting in specialist Wills. Many times, people fail to ensure that their Will is legally valid. If the Will is not valid, the Court can set aside the document.
For example, one important factor that needs to be considered to make sure the Will is valid is to ensure that he testator has testamentary capacity while preparing the Will. Testamentary capacity is the mental capacity of a person to make a Will. This includes asking questions like:
- Does the testator understand the legal effect of making a Will?
- Does he/she know the nature and extent of their estate?
- Is there any impediment that prevents them from making rational decisions?
More importantly, a lawyer is aware of all necessary rules and regulations that you need to keep in mind when making a Will. In Australia, each state and territory has a different legislation. Depending on the jurisdiction you hail from, some of the rules may or may not apply to you.
This is why you should speak to a lawyer who can give you tailored advice depending on your individual circumstance. It is the lawyer’s responsibility to make sure that the Will complies with all these rules and regulations. Moreover, it is also better to engage the services of a lawyer for Will-making purposes as they can keep the Will safe once it is prepared.
Most importantly, what people fail to consider is that solicitors can provide legal advice. They can help you chalk out your estate planning if you feel confused. You may have multiple investments, property and perhaps a blended family structure.
In such circumstances, a lawyer specialising in Wills can advise you on your next steps and best course of action. This can help you have peace of mind and focus your attention on other matters if required.
Another point to remember is that you should update your Will as well. If you belong to the group of people who have already prepared a Will, you must ask yourself if you need to update it. Perhaps, you have acquired new assets or there has been a change in your relationship?
If you have prepared a Will before your divorce, you need to make sure to update the legal document to reflect your new circumstances. As Wills are a part of estate planning, it is best to finalise both with the help of lawyers specialising in Wills and estate planning.
JB Solicitors: Lawyers Specialising in Wills
Our team at JB Solicitors have experienced lawyers specialising in Wills. They can prepare legally valid simple or complex Wills depending on your individual circumstances. Moreover, we can also help you make a family provision claim, or deal with disputing Wills or contested Wills and contested estates.
We also offer fixed-fee pricing for some of our estate planning and succession planning services. Should you require more information, do not hesitate to speak with our leading Sydney lawyers today.
If you require confidential advice about legally binding expert Wills, reach out to our solicitors. We can also help with appointing enduring power of attorney who can act on your behalf if you lose capacity to make decisions with a sound mind.
On the other hand, if you wish to read more blogs on estate planning, probate, or Wills for South Australians, click here. We also have blogs on family law, criminal law, property law, all of which you can find on our general blog page here. We deal across many jurisdictions including New South Wales, Victoria and South Australia.
Contact our estate team or other solicitors today.