Wills
A Will is a declaration in writing by you as to:
- what is to be done with your assets after you pass away
- who will be appointed as executor/ix to carry out your wishes as to the distribution of your estate
- who will be appointed as legal guardian of any children under 18 years and;
- any wishes you have in relation to the disposal of your body or your funeral.
The fact that you might believe you have no assets should not deter you from making a Will. Substantial entitlements may be payable to the estate through superannuation or insurance.
The advantages of making a will include:
- you can dispose of assets as the Will-maker intends rather than through the imposition of a statutory scheme of distribution
- you can provide for the future of a spouse and children, including provision for trusteeship and guardianship
- you can benefit friends and relatives or charitable bodies who are outside the statutory scheme of distribution
- you can exercise some control over the retention of improving assets, and the management of the estate, by directions to Trustees
- you can minimise delay and expense in the administration of the estate, and decrease the possibility of incurring unnecessary tax or other liabilities.
We seek to make this process as simple as possible. We will guide through every step including;
- discussing your wishes
- drafting your Will
- helping you choose an executor and
- safely storing your Will
Contact us to discuss your matter on a confidential basis online or call 03) 9020 7344.
Deceased Estates
The administration of a deceased estate can be a complex and emotional task for executors/administrators. Our expert staff are here to help your through the process and support you through this difficult time.
A grant of probate is the legal document issued by the Supreme Court that authorises an executor (or executors) to manage the estate of a deceased person.
We assist executors and administrators to obtain a grant of probate and/or letters of administration and to administer the Will in accordance with the Will-maker’s instructions.
Whether or not a grant of probate is needed will depend upon a range of factors. However, the greater the value of the estate, the more likely it is that probate will be required.
We assist executors and administrators to obtain a grant of probate and/or letters of administration and to administer the will in accordance with the will-maker’s instructions.
The executor’s / administrator’s duties can be summarised as follows:
- to locate the last Will of the deceased and to check its terms
- to check the formal validity of the Will
- to arrange for the funeral (normally subject to the deceased’s or family wishes and any request in the Will)
- to prove the Will (if any), and if there is no Will, to locate the next of kinto administer the estate personally
- to collect the assets of the estate and preserve them for the benefit of the estate and the beneficiaries – and arrange insurance if necessary
- to ascertain liabilities and pay the debts of the estate, if any
- to be responsible for income tax returns of the deceased to date of death, and/or the estate to the date of distribution, and to pay such assessments from the estate
- to keep proper accounts and records of estate assets, liabilities and income, and/or distribution and payments
- to distribute the net assets (if any) of the estate among the beneficiaries immediately entitled and obtain receipts
Contact us to discuss your matter on a confidential basis online or call 03) 9020 7344.