Making A Good Will

Some say there are two certainties in life: death and taxes. But if you do not want your ears ringing after you have left this earth, then it is certain that you need to make a Will and to make sure that your Will is clear, precise and properly executed.

A clumsy effort at making a Will would not only defeat the purpose of making your Will but also it is guaranteed to frustrate your beneficiaries. In most cases, your beneficiaries are your loved ones. Therefore, it would be unthoughtful to die intestate (ie, where there is no valid Will).

In Victoria, the Wills Act 1997 governs the law relating to the making of your Will. The equivalent legislation in NSW is the Wills, Probate and Administration Act 1898. The basic requirements are that you must be of sound mind and your Will must be witnessed by two people. It is also advisable to nominate two alternative executors.

Lawyers who practice in this area of the law are trained to make sure that all requirements by the Courts are met and that your Will shall be a valid one. If your will is not valid, then your wishes may not be carried out. In a worse case, you may provide an avenue for certain greedy persons to make a claim on your estate.

If your Will is required for the application for probate (ie, you are no longer here), then it is often that lawyers are involved not only to make sure that the application is successful but also to alleviate the stress from your executor and ultimately your beneficiaries.

A grant of probate (also called a grant of representation) is almost always required unless your assets are nominal (less than $10,000.00) or that everything you own is in joint names as joint assets pass by law to the survivor.

In the event of intestacy, a grant of administration is required. Again, there are requirements that are set out by the Supreme Court which must be adhered to. The solicitors play a major role in making sure that the proper next of kin applies for the Grant and that the various forms and affidavits are done in accordance with the appropriate legislations and regulations.

Finally, if you want to contest a Will, then before filing any applications, you will need to obtain competent legal advice and must be aware of the limitation period.

Contact us now for Fast, Accurate and Timely legal advice

Phone LAC Lawyers on NSW 1300 799 888 or VIC 1300 734 638 or send us an email