making a will
making a will
MAKING A WILL
A Will is a legal document prepared by a person for the purpose of setting out the manner in which they would like their Estate distributed following their death. In the absence of a Will difficulties can arise as to the distribution of the Estate particularly where there are competing interests of potential beneficiaries.
WHAT IS A WILL?
WHEN SHOULD I UPDATE MY
WILL?
WHAT SHOULD YOU INCLUDE IN YOUR WILL?
There should also be consideration given to the beneficiaries of your Estate. Ordinarily this would include family members, friends or organisations and charities that you may have an affiliation with or wish to benefit.
WHY IS MAKING A WILL
IMPORTANT?
There are a number of considerations which must be complied with in order for a Will to be valid. One of which includes ensuring that the maker of the Will, that is the Testator or Testatrix, has the legal capacity to do so.
The appointment of an Executor or Executrix will be required in preparing a Will. This is the person who will stand in the place of the Testator or Testatrix and is responsible for administering the Estate so that the assets are distributed in accordance with the terms of the Will.
In the event that a person passes with no valid Will then the laws of intestacy will apply. This means that the assets of the deceased are distributed in a way that the deceased may not have wanted.
WHY SHOULD YOU ENGAGE BRYDENS LAWYERS TO PREPARE YOUR WILL?
Our expert team of lawyers are able to assist if you have created your own Will by utilising a “do it yourself” Wills preparation kit, to ensure that the Will is legally valid and satisfies all the legal requirements of a Will.
Brydens Lawyers are the experts in relation to all Will and Estate matters. Whether it be the preparation of a simple or complicated Will or alternatively, seeking advice in connection with a claim against an Estate if you have been left out of a Will, contact Brydens Lawyers without delay on 1800 848 848. Brydens Lawyers is recognised as experts in all Wills and Estate matters. Contact Brydens Lawyers today for the expert legal advice and representation that you may need.
WHEN SHOULD YOU
MAKE A WILL?
WHAT ARE THE DIFFERENT
TYPES OF WILLS?
A Will is a relatively simple document to have prepared. It will set out in detail the way you want your Estate distributed after your death. The most common Wills are prepared for a husband and wife which provides for all assets to be passed from one spouse to the other and then to the children on the passing of both spouses. Alternatively, a Will can be a very complicated document if dealing with family businesses and trusts.
A mutual Will is an agreement, evidenced in writing, between two persons, usually husband and wife, where each agrees to make a mutual or reciprocal Will. The agreement invariably provides that neither party will revoke or change their Will without the permission of the other.
It is a fundamental principle that a person may revoke his or her Will at any time. However, mutual Wills, by virtue of the agreement reached, will resolve a person’s concern about protecting their children’s inheritance in the event they die before their spouse by preventing the surviving spouse from altering the terms of their Will.
A common fear held by a person can be that if they do pass leaving their assets to their spouse, that their spouse will remarry and thereafter make a new Will which may nominate his or her new partner as a beneficiary and thereby diminish the Estate for the benefit of the children. It is in situations such as these that a mutual Will can help protect the interests of the intended beneficiaries.
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LIVERPOOL HEAD OFFICE
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Liverpool NSW 2170
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