WILLS

If a person passes away without a will, they are said to have died ‘intestate’. The laws of intestacy will then determine how the person’s assets will be distributed. In most jurisdictions, the assets will be distributed to the closest living relatives, such as a spouse, children, or parents. If there are no living relatives, the assets may be claimed by the state.

The potential consequences of dying without a will can be significant. Firstly, the distribution of assets may not be in line with the person’s wishes, leading to disputes among family members. Secondly, the distribution of assets may not take into account the needs of loved ones, such as a spouse or children. Finally, dying without a will can also result in a lengthy and expensive probate process, which can be a burden on loved ones.

It is therefore recommended that individuals consult with a legal professional to create a will that reflects their wishes and protects the interests of their loved ones.

In Victoria, there are  specific legal requirements for making a valid will, such as the need for the Testator to have mental capacity at the time of making the will. Failure to meet these requirements can lead to challenges to the validity of the will, which can cause further delays and legal costs.

If a person passes away Intestate in Victoria, the distribution of their assets will be determined by the laws of intestacy under the Administration and Probate Act 1958 (the Act). The Act sets out a hierarchy of beneficiaries, which prioritizes a spouse or domestic partner, followed by children, grandchildren, parents, siblings, and other relatives in a specific order. If there are no living relatives, the estate will go to the state government.

In addition to the distribution of assets, a will can also provide instructions on other important matters, such as the appointment of an Executor to manage the estate and the distribution of personal items. It can also provide for charitable donations and other specific wishes of the Testator.

Our firm can assist in Wills and Estates services by providing  a range of legal services related to Estate planning, Administration, and disputes. We can help achieve your goals, protect your assets, and ensure that your wishes are carried out after you pass away. It is important to work with a qualified and experienced lawyer who understands your specific needs and can provide personalized advice and guidance.

We are able to provide the services as described below.

• Draft and update your will: Our services can assist in drafting a valid will that accurately reflects your wishes and meets the legal requirements for validity. We can also help to update your will as your circumstances change.
• Create trusts: We can help you set up Trusts, which can be useful in managing and distributing assets, and providing for minor children.
• Establish powers of attorney: A power of attorney is a legal document that allows you to appoint someone to make decisions on your behalf if you become unable to do so. We can help you establish Powers of Attorney for financial and health care decisions.
• Advise on estate planning strategies: A lawyer can provide advice on estate planning strategies, such as gifting, life insurance, and retirement planning, to help you achieve your goals and minimize taxes.
• Assist with estate administration: If you are named as the Executor of an estate, we can assist with the legal process of administering the estate, including obtaining probate, paying debts and taxes, and distributing assets to beneficiaries.
• Resolve estate disputes: We can provide legal representation in estate disputes, such as will contests, claims against the estate, and disputes between beneficiaries.