Estate Planning
Wills & POA
Wills – Reconsidering Your Will
Wills – Choosing an Executor
Wills and Estates is an area of law, which people don’t often think about. It includes documents, such as Wills and Powers of Attorney that become important only when people become ill or pass away.
The Solicitors at Macrossan & Amiet specialise in drafting these documents in our Wills and Estates Practice, giving clients full control over their assets and the important decisions made on their behalf.
Wills
A Will is an important legal document that ensures your assets are distributed according to your wishes. It enables the administration of your estate to proceed quickly and cost-effectively. Whether you need a simple will or complex Testamentary Trust, the solicitors at Macrossan & Amiet can tailor a Will for your specific needs. We recommend that you review your Will regularly. In particular we recommend that you consult with us, if any the following events occur:
- If you are over 18 years of age or are married;
- If you have recently had children;
- If you change your name or anyone named in the Will changes their name;
- If an executor dies or becomes unwilling or unsuitable to act due to ill– health, age or any other reason;
- If a beneficiary dies;
- If any specific property has been left to a specific beneficiary and you subsequently sell that property or change the property;
- If your family situation or that of a beneficiary changes for any reason (e.g. marriage, divorce, matrimonial problems, children or further children, de facto relationships);
- If you become involved in a new business, company or trust; or
- If you take up permanent residence in another State or overseas.
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What is a will?
A last will and testament, commonly referred to as a will, is a legal document that indicates how an individual wants their estate to be handled after they have passed away. A will details important information such as any beneficiaries and states what they will receive from the deceased’s property. It can also detail any stipulations that may apply to the beneficiaries such as how and when they receive their portions.
A will helps to coordinate the distribution of the deceased’s assets and can also appoint guardians of any minors that may be left behind. In short, a will is extremely important to have as it is your way of communicating your wishes.
What is an estate?
An estate is the property, belongings, money, cars, real estate and any other belongings that are owned by someone. A deceased estate becomes particularly important when the estate must be allocated or divided up after an individual has passed away.
Why will and estate planning is important
Will and estate planning is incredibly important as it ensures that you have a say over your assets and estate and what will happen to it after you pass away. If you die without a will, your estate and belongings can be distributed in a way that you would not have intended when you were living. The only way to ensure that your estate is distributed as you want is to have an up-to-date will detailing your final wishes.
Can a will be challenged or contested?
In the distribution of a deceased estate, there is the chance that beneficiaries or members of the family may feel that they have been inaccurately or unfairly treated. They can choose to challenge the will if this is the case. Examples of reasons that a will may be contested include: if a beneficiary feels that assets have been unfairly distributed; if they believe the deceased was not of a sound mind to write a legally binding will; if two wills are presented that illustrate the differing distribution of assets.
How we can assist in preparing your will and estate
As professional wills and estate experts, the solicitors at Macrossan and Amiet specialise in the drafting of wills, giving our clients full control over their estates even after death. Being able to provide this control early on is especially important as it ensures that many important decisions are completed for our clients.
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It’s never too early to organise your own will and make decisions about the distribution of your estate. In the event that something were to happen, a will is an important legal document that can ensure that your assets and estate are distributed as you would prefer.
If you need to organise a will for your own estate or you would like to update an existing will as your circumstances have changed, contact our solicitors at Macrossan and Amiet. With our specialist team providing you with years of experience, you can have the peace of mind that your estate has been organised and your will is up to date.
