Wills
Making a Will is essential to ensure your affairs are in order, come the time of your passing. By getting a Will made through a Law firm you ensure that your affairs will be as you desire.
We assist in the process of creating the Will so that it is valid, satisfies the Will maker’s wishes and is tax efficient for the beneficiaries, ensuring your loved ones are left in the best position possible.
Get in contact with our Perth Probate Lawyers
Perth Wills Lawyer
We offer discounts for couples.
Preparing your Will
Preparing your Will is an important step in managing your affairs which people commonly put off.
If something were to happen, then the Administration Act 1903 would arbitrarily split your estate between your spouse, children and possibly other family members, without taking into account your relationship with each of them, each beneficiary’s needs (such as a disabled family member), whether you wanted to give a particular item to a beneficiary or any other factors.
It is not uncommon in these circumstances, for one or more beneficiaries to commence a potentially costly family provision claim where this is inadequate for the beneficiaries maintenance and support in life.
We also frequently see the situation where people have a Will but they have not completely dealt with their estate or their circumstances have changed since they completed their Will, which will complicate the administration of your assets.
If you have married or divorced since you made your Will, your Will is automatically revoked (unless made in contemplation of marriage or divorce) so you will need to prepare a new Will.
Most people will only need a simple will but it is important to consider whether a testamentary trust would be more appropriate, particularly because it gives a person maximum flexibility, particularly for asset protection, to look after particularly vulnerable beneficiaries or to minimise tax implications for beneficiaries arising from receipt of particular assets or the income from income earning assets.
Perth Wills Lawyer FAQ
A will ensures that your assets are distributed according to your wishes after your death. It can also specify guardianship for minor children and outline funeral arrangements. Without a will, the distribution of your estate will be determined by state or territory laws, which may not reflect your preferences.
Yes, you can change your will at any time as long as you are of sound mind. Changes can be made by adding a codicil, a separate document that modifies the original will, or by creating a new will that revokes the previous one. It’s important to review and update your will regularly to reflect changes in your circumstances.
Dying without a will is known as dying intestate. In this case, your estate will be distributed according to the intestacy laws of your state or territory. These laws follow a strict hierarchy of beneficiaries, which may not align with your wishes, potentially leading to family disputes and unintended consequences.
Learn more on the WA Justice page