Frequently asked questions about wills and estate law in New South Wales
Benjamin & Robinson Lawyers are often asked about the complexities of wills and estate law. The specifics of wills and estate law can vary by jurisdiction, so it’s always a good idea to consult with a lawyer in your area for advice tailored to your situation. Here are some of the most frequently asked questions:
What is a will and why is it important?
A will is a legal written document that outlines how you want your assets distributed after your death. It gives instructions for the person or organisation distributing your property about how this is to happen. It’s crucial because it ensures your wishes are respected, reduces potential disputes among beneficiaries and can help avoid a lengthy probate process.
Who can make a will?
In NSW, anyone over 18 and of sound mind can make a will, as long as they have the mental capacity to understand what they are doing. However, in certain circumstances, the court may approve a will made by someone under 18.
What is estate law?
This involves the distribution of assets upon a person’s death according to their wishes. It includes estate planning for individuals and businesses, deceased estate administration, contesting and challenging wills, and estate dispute resolution and litigation.
What can you leave in a will?
Your estate includes any property you own at the time of death, including cash, savings and investments. You can include assets, rights and powers, specific belongings, and any other matters such as how you would like your remains to be dealt with, organ donation and who you would like to act as guardians of any minor children. You may also provide instructions on who should take care of any pets you leave behind.
What can’t you leave in a will?
Some assets do not pass from the deceased to another person through a will. Examples include property owned as joint tenants, assets from your superannuation or insurance fund, and assets that are held in family companies or trusts.
Contesting a will
If you wish to contest a will, strict time limits do apply. An experienced lawyer can assist with will dispute mediation and contested claims. Established for over 30 years,Benjamin & Robinson Lawyers have the experience to negotiate fair settlements.
What happens if I die without a will?
If you die without a will, you die ‘intestate’. In this case, your estate will be distributed according to a pre-determined formula set out in the Succession Act 2006 (NSW), which may not align with your wishes.
Can I change my will?
Yes, you can change your will at any time. However, the changes must be made in accordance with legal requirements to be valid.
What is probate?
Probate is the process of proving and registering the last will of a deceased person in the Supreme Court. It gives the executor the legal authority to deal with the estate.
What is a power of attorney?
A power of attorney is a legal document that allows you to appoint someone to manage your financial and legal affairs while you’re alive, either for a specific period or if you lose mental capacity
What is an executor?
An executor is a person named in your will who is responsible for carrying out the wishes outlined in your will, paying any debts and distributing your assets to the beneficiaries.
What is a testamentary trust?
A testamentary trust is a type of trust created by a will. It comes into effect upon the death of the person making the will and can provide tax benefits and asset protection for the beneficiaries.
Benjamin & Robinson Lawyers – your trusted partner in wills and estate law
At Benjamin & Robinson Lawyers, we’re committed to guiding you through the wills and estates process. Established for over 30 years,Benjamin & Robinson Lawyers has developed an excellent reputation for providing the highest standards of wills and estates law for the Sydney community. As well as wills and estates, we offer expertise in family law, compensation law, property law and conveyancing and traffic law. Would you like more information about our services? Contact us today to schedule a consultation. With offices in South Hurstville and St George, the fees at Benjamin & Robinson Lawyers are affordable and competitive. For enquiries or a quote, contact us today on 02 9547 1733. You can also email us. Connect with our experienced lawyers today.