How to make a will
– Description of practice
There is no one answer about how to do your Will. It all depends on your assets, your circumstances and who your beneficiaries will be.
You need to make a will that makes your wishes clear, that avoids confusion and conflict amongst your loved ones, and that is legally valid and binding. Doing this will protect your family and friends from costly and stressful legal disputes.
Things you need to consider
Who will be your Executors?
Your Executors have the legal and administrative task of sorting out your assets and debts after you die and making sure that your wishes as outlined in the Will are upheld.
Who will be your beneficiaries and what effect will their inheritance have on their circumstances?
You can designate anyone as a beneficiary and distribute your assets in any way you like, however if you don’t provide for your family and dependents, your will can be contested and your hard won assets used on litigation fees.
You also should consider the effects that an inheritance may have on your beneficiaries. In some cases a testamentary trust can sidestep potential taxation problems, so it’s important that you get specific advice about your situation.
How do you know a Will is valid?
To be valid, the person making the Will must be mentally competent, the Will must be correctly signed and witnessed, and show no evidence of tampering. The witnesses to the Will cannot be beneficiaries, or related to beneficiaries and must be over 18. If there is any doubt, or potential for dispute as to your mental competence, you should get a doctor’s confirmation of your capacity to make the will and include it with your Will.
How often should I review my Will?
You should certainly review your Will after any major events, such as marriage, divorce, property purchase or sale, death of a beneficiary or if your assets change significantly. We also recommend that you take a look at your Will every couple of years just to make sure that it is still the best instrument for you and for your family.
We can help
We know the potential pitfalls, and will ask you all the right questions to make sure that you have considered every possibility. We can advise you as to whether you would be best with a Will or a Testamentary Trust. We can design your Will in such a way to help protect your family from expensive estate litigation after your death and we can safely store your Will in our secure vault.
More Practices
Assistance in making a will
We understand the need to equip ourselves with knowledge in various areas such as property, business, trusts, tax, super and family law to ensure that the rights and obligations of our clients are covered
Business Law
Our team members are trained and equipped to deliver a variety of commercial matters, which include but are not limited to real estate related transactions, cross-border corporation transactions and corporate governance or stakeholder engagement matters.
Conveyancing
ALP Lawyers believe that every successful transaction or project execution comes with an insightful and innovative approach
Criminal Law
ALP lawyers adopts effective case-strategies and attempts to achieve the best result for you at an affordable price. We understand that criminal matters can be timely, stressful and extremely costly but we hope to achieve optimal results in the shortest span of time
Divorce & Family Law
ALP Lawyers has significant experience as a Family law expertise to help our clients navigate through highly complex family law issues that can be extremely stressful and exhausting. We assist in issues relating to Divorce, Division of Matrimonial Assets, Parenting, and Binding Financial Agreements.
Migration Law
ALP's migration lawyers can also assist in Review applications at the Administrative Appeals Tribunal as well as Judicial Reviews at the Federal Circuit Court and the Federal Court of Australia.
Notary Public Law
A notary (also referred to as a notary public or public notary) is a practising lawyer appointed by Statute or Commission to witness documents, administer oaths and perform other administrative functions at both domestic and international levels
Probate & Deceased Estate
The Estate Administrative Process is arbitrary in nature and we wish to assist you in understanding your rights in respect with wills, estate planning and estate disputes
Regulation & Trade
Regulations in relation to trade and licenses are constantly evolving and increasing enforcement and regulatory undertakings in the recent years only increase the complexity! Our team is at the forefront of the competition and trade laws, therefore we are ready resolve the legal challenges that arise from commerce and trade in the most efficient manner