Aussie Wills and Estates

Good estate plans include things like making sure your assets go to people who care about you, such as your spouse or children. You should include instructions telling how you want your money spent. Your will should be written up before you die, and signed by witnesses. This document should also include information about funeral arrangements. Planning Your Estate Estate plans cover what happens to your assets when you die. You can specify who should manage them while you’re alive, and who should manage them after you die. You can also nominate people to manage your health care or finances. Your wishes should be considered carefully and you need to know who you want to make decisions about your life. You may need to get professional help deciding what to do with your property, assets and savings. It’s important to decide how much money you want to leave to charity or relatives. Plus, you need to decide whether you want to leave anything to your spouse or children. This boils down to...

Superannuation benefits aren’t considered to be an asset, so they can’t be included in a Will. Your superannuation is managed by the trustee, and you can only access it when you retire. You can ask the trustee to distribute part of your superannuation, but you can’t do anything about it until you retire. Superannuation is a type of pension plan that provides retirement benefits to workers when they retire. In Australia, there are two types of superannuation plans, public and private. Public superannuation funds are run by government agencies such as the Australian Taxation Office (ATO). Private superannuation funds are provided by employers. You may choose to pay into either a public or private fund, but you must make sure that you do not mix them up. For example, if you contribute to both a public and a private fund, you could end up paying double tax on your savings. Superannuation benefits are usually not included in your estate because they belong to the trustees of your super f...

What is an inherited property? Can a sibling contest a will? Inherited property is any asset that passes down from an ancestor to a descendant. If you are contesting a will, it means that you are challenging the validity of a will in court. It typically does by someone left out of the will and wants more than what gives- usually money. The process for this can be long and arduous, so if you're considering it, make sure to hire an attorney! What to do when siblings fight over inheritance? If siblings are fighting over an inheritance, it usually means that they aren't on speaking terms. If this happens, then the estate will be split between each child by law. For the specific details on doing this, you should consult with a lawyer or legal professional. Sibling Rivalry Over an Inheritance: Can Litigation Be Avoided? If siblings can avoid litigation and reach a settlement on their own, this would be ideal because it could save both parties money. The best way to go ...

What are inheritance disputes? When an individual dies without a will, then the estate must be divided following state law. This process is called an inheritance dispute. If the deceased has children, they are entitled to receive certain shares of their parent's assets. Inheritance disputes lawyers can help you understand how this process works and navigate through it when necessary. What causes a will to go to probate? There are many reasons why do wills go through probate . The deceased's heirs may contest a will or bypass some of their heirs altogether. A will also consider invalid if the dead were not legally entitled to make one due to age and mental capacity restrictions (e.g., underage, mentally ill, etc.). What is the role of an inheritance dispute lawyer? When there is a will, and it goes to probate, mainly if there is a challenge to its validity or if it results in an inheritance dispute, then lawyers for this process are called "representatives....

What exactly is a will? Why do I need a will? Wills and estates is a legal document that allows you to specify who gets what when you die. It can be challenging to think about death, but everyone needs to have a will to avoid confusion and frustration when someone dies. What happens if a will dispute? If you die without a legally valid will, it can be difficult for your heirs to sort out what to do with all of the belongings that you leave behind. It could prolong the probate process (giving your estate time to settle) and complicate an already difficult situation. You may also want to publish a notice in the newspaper if no one knows about your secret wishes or there are disputes among family members. That way, people will see how you want things handled. Without information like this, the court might decide based on its ideas of what's best for your loved ones. What kind of lawyer helps with wills? Lawyers for wills and estates who focus on estate planning helps p...