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Wills and Estate
A will is a legal document with information and instructions for the person/s you want to care for your children, inherit your estate and be the executor of your estate after you pass away. It is crucial that your will is prepared by experts who are aware of all legal technicalities involved in this process.
What is a Will?
Your Will is an important legal document outlining your wishes for when you pass away. It details:
- who you want to receive your assets
- who you want to receive specific personal items
- arrangements for your funeral (including any religious or cultural details)
- who you want as a legal guardian for any children under 18 years
- who you choose to be your estate executor when you pass away
Did you know that not all property can be included in your will?
This passes automatically to the surviving joint owner (or owners) on the death of the first dying joint owner — it does not form part of the estate of the first person dying.
Your superannuation arrangements may not entitle you to dispose of your superannuation assets by your will. The rules differ from scheme to scheme — you should discuss the matter with the administrators of your superannuation fund.
Jointly held property
Superannuation
Proceeds of life insurance policies
If the owner of the policy has nominated a beneficiary of the policy, the nomination takes precedence over the terms of the will. It follows that, where a nomination is made, the proceeds of the policy do not form part of the estate.
This passes to or is held for the beneficiaries of the trust according to the terms of the trust.
Certain shares in private companies cannot be given by will.
Property held in trust
Shares
Managing your estate
Administering an estate is not always straightforward and an executor can be held liable if they get it wrong. That is why it is a good idea to list a solicitor as an estate executor in your will.
In short, when someone dies, an executor is the person appointed by the will to administer the estate. This involves making sure their debts are paid and that their assets and possessions go where the deceased wanted them to.
Have you thought about making a Will or updating your current one?
In short, when someone dies, an executor is the person appointed by the will to administer the estate. This involves making sure their debts are paid and that their assets and possessions go where the deceased wanted them to.
Have you thought about making a Will or updating your current one?
First, we will schedule a 1-hour Estate Planning consultation with me personally.
After the consultation and taking your instructions, we will draft a Will for you.
- $150 incl GSTEstate Planning consultation with our Principal Solicitor (Book here)
- $880 incl GSTDrafting a Will (Simple Will, no testamentary trusts)
- $880 incl GSTPreparing a Will with Testamentary Trust
- $880 incl GSTPreparing a Binding Death Benefit Nomination for a SMS
- $350 incl GSTPreparing a Statement for Reasons
- $250 incl GSTPreparing an Enduring Power of Attorney
- $250 incl GSTPreparing an Appointment of Enduring Guardian
- $150 incl GSTPreparing a Statutory Declaration
- $150 incl GSTPreparing Estate Information Manual
- $150 incl GSTPreparing a Letter of Wishes
- Free of chargeSafekeeping the original Will at the firm’s storage
- Free of chargePreparing written instructions to sign the Will at home
You will receive
What Will's and manage estate service includes:
A will is a legal document with information and instructions for who you want to care for your children, inherit your estate and be the executor of your estate when you pass away.
Detailed written instructions on how to sign and witness the will unless you wish to do this in our Brisbane City office;
And detailed instructions on how to safely store your original will. Our office will retain a copy of your Will
And detailed instructions on how to safely store your original will. Our office will retain a copy of your Will
The Will
Detailed written instructions
Proceeds of life insurance policies
Detailed written instructions for your Executors on how to perform their duties