Wills and Estates
Wills direct the distribution of assets to your beneficiaries in accordance with your wishes and is amongst the more important documents you will prepare in your life time. It is essential to document who will be appointed the executor of your estate, who will act as a guardian for any minor children and how your assets will be divided? If a will is not properly written, signed and witnessed it may be invalid. An invalidly drawn will may be left open to challenge or worse still may have no effect at law meaning that the law will determine how your assets are dealt with. This can create serious personal and taxation consequences to your dependants. Your will should be updated when your individual situation changes such as events like getting married, divorced, entering into a defacto relationship, acquiring a significant asset, or if you wish to change your beneficiaries.
At P&B Law we advise and assist in the preparation of your will. We also assist in applications for grant of Probate and other testamentary matters.
From simple to very complex wills, at P&B we can advise you on a variety of matters such as:
- Specific gifts;
- Specific burial wishes;
- Mutual estates;
- The establishment of a testamentary trust for long term asset protection and taxation benefits;
- Dealing with Superannuation and Insurance policies;
- Dealing with and passing on a family business or an interest in a company/business;
- Dealing with overseas assets;
- The effect of a marriage, divorce or a separation;
- Estate Planning to ensure that assets are transferred to beneficiaries in the most financial and tax effective manner.
At P&B Law, we can guide you through the estate planning process so that you are satisfied that:
- Your will complies with all legal requirements as it is properly drawn up, correctly signed and witnessed;
- Your beneficiaries are provided for and your wishes are clearly expressed;
- You understand under what circumstances your will can be challenged and have taken appropriate steps to minimize the risk of this occurring.
If you have any questions regarding legal wills and estates – please contact us for prompt service.
Contesting a Will
At P&B we can advise you on challenging and contesting a will where you believe that:
- The will was incorrectly executed or administered.
- The will maker was incapable of making a will or executed the will under pressure from others.
- The will maker made insufficient provisions for a spouse, children or other dependants which the will maker has a moral obligation to provide for.
Contesting the validity or interpretation of a will can be costly and complex and there are strict time lines which must be followed.
Powers Of Attorney
A Power of Attorney is a document which is used to give a trusted relative or friend a legal right to sign documents on your behalf. Medical Powers of Attorney are now used to give a trusted relative or friend the right to make decisions with respect to your medical care if you are unable to instruct your doctors. At P&B Law we can draw limited or unlimited powers of attorney to suit your circumstances.