Preparing a Will to Distribute Your Estate and Protect Your Loved Ones

last will and testament

In Australia, the laws governing will disputes are quite complex and might differ from one territory to another. An experienced Townsville solicitor can assist you now that you intend to engage in estate planning. When your property is not in order, disputes can arise. With that in mind, leaving a decisive and clear will establish the inheritors of your assets and protects the people whom you love the most.

Your estate

Your property or estate will be left behind in the event of your passing. Your estate includes houses, shares, motor vehicles, jewellery, cash, all forms of investments, and savings. A will is written documentation of instructions on what becomes of your estate and how it will be distributed. The guidelines might be intended for an individual or organisation entrusted by you. Anyone over the age of 18 years and can understand what he or she is doing can prepare a will. If a person is under 18 and married or receives court authorisation to make a will, he or she is eligible as well.

Your will

When preparing a will, you can include other matters of importance, such as organ donation, the manner by which you wish your remains to be interred, and how you want your children to be cared for. You can state your preferences and trust a solicitor to execute them as you have intended. It is your right and privilege to learn about the effects of the will you are proposing. Be sure about how you want your estate to be dealt with and be clear and concise in writing down instructions.

ready to sign a last will and testament

An experienced solicitor should be by your side when you prepare the will since certain assets cannot be passed onward to another through a will. Other assets that you cannot pass on are those under joint ownership and property held in trusts or as part of a corporation. A solicitor can give you valid advice as to the formal requirements of preparing a will. For starters, the document must be in writing and signed appropriately. Choose the witnesses of your will well.

Your executor

Australia’s population is ageing, and estate planning has become an essential aspect of legal practice in the country. The executor of a will is expected to act in good faith. The primary duty of an executor is to carry out the wishes of a deceased person. Administering the will in honesty involves various tasks, including the distribution of assets, the filing of taxes, and the payment of debts. Other duties might be necessary depending on the requirements of the probate court. You can appoint one or more persons as executors.

In the end, you must realise the value of engaging legal aide when preparing a will. They can give you objective advice based on their experience. How else can a solicitor who is an expert in family law help? Their services will come in handy should any dispute arise or if someone wants to challenge the details of your will.