making a will
making a will
A Will is a legal document prepared by a person 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.
A Will is a relatively simple document to have prepared particularly by experts such as Brydens Lawyers. The Will will set out the manner in which you want your Estate distributed after your death. The most common Wills are prepared for a husband and wife which provide 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, trusts and the like.
WHY DO YOU
NEED A WILL?
A Will is a way of ensuring that those whom you want to benefit from your Estate do in fact benefit. That is not to say that a Will can be prepared which cannot be contested. Challenging a Will cannot be prevented however options can be explored to minimise the risk of a claim.
In the absence of a Will a person dies intestate and beneficiaries may need to apply for Letters of Administration from the court. This can be a timely exercise. To ensure that your Estate is distributed according to your wishes then a properly drawn and executed Will should be considered.
WHEN SHOULD YOU
MAKE A WILL?
Whether you have a property, motor vehicle, or furniture a Will should be considered. A Will should be made without delay given unforeseen circumstances that may arise in a person’s lifetime.
WHAT SHOULD YOU INCLUDE IN YOUR WILL?
Matters to consider when preparing a Will is the appointment of an Executor or Executrix. This is the person who is charged with the responsibility of administering the Will and distributing the Estate. In addition, if there are infant children, consideration will also need to be given to the appointment of a Guardian.
Consideration must also be given to the beneficiaries of the estate. This may include family members, friends, organisations and charities.
WHY SHOULD BRYDENS LAWYERS CREATE YOUR WILL?
Brydens Lawyers are the experts who provide comprehensive advice in respect to the drafting of your Will at a reasonable cost to you.
LATEST NEWS FROM LEE
An article published by insurancenews.com.au on 22 November 2019 references a reported $876 million net loss by NSW State owned Icare for its workers compensation Nominal Insurer scheme last financial year amid rising medical costs and falling bond yields.
It is reported that gross premiums were in the order of $2.5 billion while net claims expenses/scheme costs were just over $4 billion. That is, there was a reported underwriting loss of almost $2.4 billion while Icare received a net investment revenue of just over $1.6 billion.
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