Wills & Estates
Comprehensive estate planning and probate services for peace of mind.
Frequently Asked Questions
Wills & Estates
Why do I need a will?
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To avoid your estate being wasted on the higher legal fees that apply when a person passes away without leaving a will
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to protect those that you leave behind from financial distress;
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To do your best to have your assets inherited by those you wish;
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To avoid your estate being subject to avoidable taxes through estate planning
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To set up a defence to anticipated claims on your estate.
What happens if someone dies without a will?
Their next of kin does not have any legal rights or entitlement to their property, assets or accounts that were not jointly. This situation requires the next of kin to apply to the Court for a specific court order to access and receive the estate. The legal costs associated with obtaining this court order are significant (and avoidable) and the process will be delayed.
An even more significant consequence of a person dying without a Will is that their estate is then exposed to claims by all persons that fit into the category of ‘eligible persons’ to bring a claim. This could mean many people have a claim and stake in an estate that otherwise was intended to be inherited quite specifically.
How often should I update my will?
Wills should not be unnecessarily updated as the act of replacing your will can suggest that you have changed your intentions on who you want to inherit your estate. If you are seeking to clarify details and not change who inherits your estate then there may be safer and better legal means of doing this than updating your will. Consulting your lawyer is a first step that you should take before you update your will.
What is a power of attorney and do I need one?
A power of attorney authorises another person or persons to act on your behalf for legal, property and financial matters.. A power of attorney can be set up to apply immediately or only in certain circumstances such as in the event you suffer a major health episode or loss of capacity. We are incredibly cautious in our advice about making a power of attorney and we ensure that precautions are taken and that the document contains clear conditions on the powers granted and limits where necessary.