Estate Planning & Deceased Estates
Don’t be one of the 60 per cent of Australians who do not have a valid Last Will and Testament. The team at Lynn & Brown Lawyers can help you to prepare a Will so that in the event of your death, your estate will go to the people you want to provide for.
Your Last Will and Testament is an important document. It contains your instructions as to what is to happen with all of your property including real estate and personal property (collectively called your “estate”) once you pass away. It is also your opportunity to express your wishes on matters that may affect your family should you pass away. The preparation of a Will requires the consideration of several key issues.
- Who do you need to provide for?
- How will your estate be divided?
- Who would you like to be responsible for your children?
Another important consideration is who you appoint as the executor of your Will. An executor is the person who will be responsible for carrying out the instructions you have put in your Will. Your executor is also responsible for ensuring that any debts owed by you are paid once you pass away.
Other Areas of Deceased Estates
Some of the key reasons for preparing a Will are:
- To ensure that your estate goes to the people that you want and need to provide for.
- To avoid your estate going to people that you may not want it to go to.
- To minimise the risk of having a disputed estate (see below).
In Australia surveys show that about 60% of adults do not have a valid Will in place. If you do not have a valid, or up to date Will, you or family may experience the following difficulties:
- Your property may not go to the people you want it to go to. It may not go to them in the shares that you want it to.
- Your wishes as to who you would like to care for your children may not be known.
- Your children may receive their inheritance at the age of 18. You may wish to provide instructions as to how, and when, they receive their inheritance.
How We Can Help You
- If you need a Will, or to review a current Will, we will work with you to ensure your assets will be left to who you intend
- We can help you understand your obligations if you find yourself managing a deceased estate
- We can help to prepare an Enduring Power of Attorney, or an Enduring Power of Guardianship or an Advanced Health Directive
- We can provide advice on how to create a succession plan for your business
View our Fact Sheets for more information.