All too often, people tend to leave their estate planning until it is too late. However, having your estate administration prepared is a useful formality that will provide certainty and save you on certain expenses in the long term. If you need to get your estate in order, get legal advice from the Will and estate lawyers at Owen Hodge today.
How can our Wills and Estate Lawyers help you?
Estate Planning
A Will and estate lawyer can provide certainty and peace of mind. Understandably, planning for death is generally an issue that is neglected by many Australians. Around 40% of Australians die each year without a Will or any significant estate planning, and many of the remainder die with Wills that do not reflect their current needs.
There are legal issues that must be taken into account when you are considering your estate planning and financial plans, and our expert Will and estate lawyers in Sydney are here to help. How you structure your Will, the appointment of trustees and Will executor, how your estate is distributed and the appointment of guardians for any children are all vital issues that should be addressed in your Will.
There may be circumstances where testamentary trusts should be established after your death or life interests created.
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Power of Attorney
Our Will and estate lawyers are also able to advise and assist you in the preparation of Wills and estate planning issues, such as Power of Attorneys and Guardianship appointments. We can also discuss Advance Care Directives with you if you want to leave directions to your guardian should you become incapable of making a health or welfare decision.
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Probate
Probate is the legal process where a Will is “proved” to be a valid and true last testament of the deceased. It occurs before an executor can administer a person’s estate and distribute it to the beneficiaries. In order to apply for probate, you need an experienced probate lawyer or trustee company.
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Contesting Wills
The death of a loved one is a challenging and stressful time, especially if you feel you have been unfairly provided for in a Will (or not provided for at all). If you find yourself in this position, there are legal actions you can take. However, it is important that you know who can contest a Will, because the process can be complicated.
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Speak to a Wills and Estate Lawyer today
You only have one chance to get your Will or estate Planning right. Once you have passed away, the Will cannot be changed without the intervention of the Supreme Court. Whatsmore, the legal fees associated with contesting a Will far outweigh the cost of seeing your solicitor early on.
It is therefore important that you get it right the first time. Contact our Will and estate Lawyers at Owen Hodge today for a cost-effective solution to your estate planning. We also have experienced Power of Attorney lawyers and can assist with any other matters regarding deceased estates, grant of probate, letters of administration and estate law.
Wills & Estate FAQs:
How much does a Will cost in Australia?
The cost of making a Will with a lawyer largely depends on your situation. While a DIY Will may potentially save you money, working with a lawyer will ensure your Will is error-free and a legally binding document.
What are beneficiaries of a Will?
A beneficiary is a person listed on a Will who is entitled to receive benefits/gifts from a deceased estate. If you’re a beneficiary, learn about the rights of beneficiaries of a Will NSW.
How soon is a Will read after death?
While there is no official reading of a Will in Australia, the executor should administer the estate and read the Will within 12 months of the date of the deceased.
What is the difference between a Will and estate?
Will planning involves creating a last Will and testament. Estate planning, on the other hand, involves a number of documents that will secure your assets after your death. Estate plans can be beneficial if you own a business, have specific requests, have had more than one marriage or want to donate part of your assets to charity.