Planning for your future with a Wills
and estate lawyer
Imagine the relief on your partner’s face when they realise you had thought of everything and, as far as possible, made sure that they were secure and looked after in the event of your passing.
Everyone should create a Will to avoid the confusion and frustration of managing a deceased estate.
Understanding Wills
What is a Will?
A Will is a legal document you prepare to nominate who will receive your assets after you pass away.
Why should a lawyer prepare my Will?
Many cases in the Courts could have been avoided by the deceased person having a properly drafted Will. Wills are often not signed properly or it is unclear what the clauses in the Will mean. This can cause complications in applying for Probate. In some cases, the Court has decided that a beneficiary is not entitled to the gift under the Will because the wording is unclear or an error is made when describing the asset.
What assets should be included in a Will?
It depends on your circumstances; some assets cannot be included in a Will, and you will receive advice tailored to your circumstances at your first appointment. For example, assets in a trust are not able to be gifted by Will. Generally, a Will covers all of the assets in your name at the time you pass away. If you have assets overseas you may require a Will in the country you hold the assets. This can all be discussed with your lawyer at an initial appointment.
Do I need a Will?
It depends on your particular circumstances, however, having a properly prepared Will makes dealing with matters easier for your relatives after you have passed away. For example, it provides banks, utility providers and other places with an authorised person to provide information to, this person is called your executor.
When should I change my Will?
If something significant has or is happening in your life, such as marriage, divorce, new baby, new relationship, death of a loved one or purchase of a home then your Will may need to be updated. You should read your Will every 2-3 years to see if it is still suitable for you.
Do all Wills go through Probate?
It depends on the value of the estate and whether Probate is required to administer the estate. For example, some institutions may be willing to allow the Executor to deal with the assets without obtaining Probate if it is a small estate. Executors should obtain advice about their obligations and any potential claims that may be made against the estate prior to attempting to deal with an estate without Probate.
What if my relative is incapable of preparing a Will?
You may wish to make an appointment to discuss their circumstances. Sometimes after being assessed it is still possible for someone with a disability to make a Will. If not, then it is possible to apply to the Court for a Will to be made for a relative who has a disability.
Are Wills considered family law?
A family lawyer generally assists people who are going through a separation or divorce. A Will is usually prepared by a lawyer specialising in Wills and Estate Law. If you are going through a separation or divorce, then this is a good time to consider whether your Will is still suitable. You may need a new Will if you do get a divorce as in some instances divorce cancels an existing Will.
Bechelet & Co are lawyers specialising in Wills in Perth.
We offer a free no-obligation 15-minute telephone consultation to discuss your needs.
Let us answer the difficult questions
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When is the best time to get a will?
Anyone over the age of 18 can make a will. However, many leave it until later in life to think about their estate planning. In our view, it is not enough to simply prepare a will. It’s important to consider a multitude of other matters when preparing a will. Therefore, the process of organising your affairs is often referred to as estate planning.
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Why everyone should have a will
Making a will in Western Australia is easy. First things first, you need an executor of a will. If you prepare a will, then you can nominate someone you trust to be your executor. The executor has an important role as the person authorised to contact institutions and make decisions relating to your estate, so choose carefully.
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Leaving behind a positive legacy
Imagine the relief on your partner’s face when they realise you had thought of everything and, as far as possible, made sure that they were secure and looked after in the event of your passing.
When should I start estate planning?
The answer is right now.
Often we see people leave it until they:
Experience the loss of a loved one who didn’t have a will, and this prompts them to put their own plan in place
Are going on an overseas trip (international travel may be allowed again soon)