If you believe the will maker was not mentally capable; does not give a share (or adequate share) to a spouse, child or step-child; is without a clear meaning or not in the strict format of a Will, then certain Applications can be made to the Court to address these matters. Some contests may be able to be settled outside of court. Strict time limits apply to such Applications, so we advise you to contact our team without delay to discuss your best course of action.
Superannuation Entitlements
Superannuation does not fall as a part of the estate as it is the trustee of a superannuation fund who has the duty to distribute the death benefits of a deceased fund member. We can however help you complete the necessary Applications to have the benefits paid to the estate so that the funds may be distributed according to the Will (if one exists) or advise whether a person may have a right to make an application as a claimant to some or all of the funds. If a decision has been made regarding the distribution and you wish to contest the same, we can assist you also in that regard.
Enduring Power of Attorney
An Enduring Power of Attorney allows you to appoint another person (your “Attorney”) to make decisions for you in certain circumstances should you become temporarily or permanently unable to do so. Such decisions usually involve those that relate to your financial or health issues.
Estate Planning
Estate planning is the process of developing a strategy that assists in managing your assets, tax minimisation, succession planning and protection of an inheritance from divorce or bankruptcy. We can advise you in these complex matters.
It is also the process of planning and recording your wishes for the distribution of your wealth after death. As this sounds straight forward, it is often assumed that 'estate planning' refers to the preparation of a Will. However, in some cases it's not that simple.
There are aspects of estate planning that go well beyond the Will. For example, how are family trust assets dealt with? What happens to superannuation? And how are jointly held assets treated? And who is best suited to carrying out your wishes, as executor of your Will?
Dealing with these issues requires specific estate planning advice and—in most cases—a review of your family trust deeds, superannuation funds and asset ownership arrangements.
Wills, estates and trusts are complex areas of the law. Estate planning, including the writing of Wills, is an area of law that is far more complex than it first appears—even for people who have relatively modest assets.
Assets that are not held personally—for example, funds held in trusts, superannuation accounts and joint holdings—need to be dealt with skilfully to ensure they are distributed the way their owner intends. In these circumstances it is wise to consult a lawyer with estate planning expertise.
At ABA Lawyers, we understand the importance of Wills, Estates and Trusts, and the sensitivities that come with creating or changing your Will. Do not procrastinate about something as important as having a Will or updating your Will. Please call us for an appointment so we can make this an easy process for you: admin@abalawyers.com.au