Wills & Estates

Most people do not look forward to estate planning. It is not enjoyable to think about a time when your will or power of attorney might be needed, but planning your estate is a gift that you can give to your loved ones.

Preparing a Will

Every adult needs a will. For those who are young and healthy, a will is quick and inexpensive insurance against the unexpected. If someone dies without a will they are “intestate”, and the law will decide how their assets are distributed. Often this distribution will be in line with the deceased’s wishes anyway, with assets passed to their partner and/or children. Still, everyone’s situation is different, and the one-size-fits-all rules of intestacy will not suit everyone. In any case, administering an intestate estate takes time, energy, and money from the family of the deceased, often when they can least afford them.

Even someone who does not have much property to distribute still needs a will. One of the most important functions of a will is to nominate an executor. An executor has the authority to take care of all the little things that must be done when someone dies, such as arranging the funeral or rehoming a pet. When someone dies without nominating an executor, their loved ones must apply to the Supreme Court for the power to administer the estate.

The need for a will becomes especially pressing for people who have children or other dependents. Importantly, a will can create financial arrangements to hold money in trust for the care of children. In addition, many parents will use their will to nominate a guardian to look after their children if they pass away.

Enduring Power of Attorney

An enduring power of attorney is a legal document that allows someone to pick another person to make certain decisions for them if they lose capacity to do so for themselves.

Just as every adult should have a will, it is advisable for everyone to also have an enduring power of attorney.

There are different types of powers of attorney, and we can help you decide what is right for your circumstances and prepare the documents for you.

Estate Administration

After a person dies, someone needs to look after their property and finalise their financial and legal affairs. This is typically referred to as estate administration. If you are the executor appointed under the deceased’s will, you will have many responsibilities such as identifying and gathering the assets, applying for a grant of probate, claiming funds under superannuation and life policies, distributing assets, and transferring property to beneficiaries.

At times, executors may need to deal with matters that are outside their areas of expertise. For example, they may need to consider the tax implications on the sale or transfer of assets, the order of payment of debts, or deal with an estate dispute or testators’ family maintenance claim. We can help you through the legal process, providing advice and guidance so you can carry out your duties and administer the estate as smoothly and efficiently as possible.

If you need assistance, contact one of our lawyers at [email protected] or call 03 9531 8628 for expert legal advice.