At Platinum Lawyers, we have assisted in creating countless numbers of Wills for our clients. 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. A number of issues need be considered prior to executing a formalized Will.
What happens if i die without a Will?
If you don’t make a Will you will die intestate. This could be extremely costly, time-consuming and stressful for your family.The distributions under intestacy are as follows:
If you have a spouse and no children:
- Your spouse receives the entirety of your estate;
- If you have a Spouse and a De facto spouse there are three ways to divide the spousal entitlement between the spouse and the de facto spouse:
- The spouse and de facto spouse may make a written distribution agreement;
- The court may make a distribution order; or
- Distribution in shares is made by a personal representative.
If you have one spouse and children:
- Your spouse receives $150,000.00 and the household chattels;
- The remaining share of the estate is split equally between your spouse and children.
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. This person should be:
- Someone you trust;
- Be your own age or younger;
- preferably someone with business or financial experience.
Who will be your Beneficiaries?
Your beneficiaries receive a benefit of your estate once you pass. Anyone can be designated as a beneficiary. However, if you don’t provide for your family and dependents, you will be contested. Litigation for contesting a Will can be expensive.
Ensuring a Will is drafted in a way which is aligned with your wishes, and is likely to avoid being contested, is Platinum Lawyers expertise.
What is a valid Will?
A few factors make a Will valid. Firstly, the person making the Will must hold the legal capacity to do so. The Will must also be correctly signed, witnessed, bound and show no evidence of tampering. 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.
When should I prepare or update a Will
Generally, a Will should be updated every two years, to ensure your intentions and wishes are relfected in your last Will and testament. However, there are many instances which may occur such as:
- If you have married or divorced;
- A beneficiary has died, or become estranged;
- You have had a child;
- Your assets have changed, such as purchasing a new home;
- Your intentions as to the gifts benefices receive have changed.
How we can help
At Platinum Lawyers, we know the potential pitfalls and will ask you all the right questions to make sure that you have considered every possibility. 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. We also assist in executing Wills, amending Wills, and can provide general advice on a Will.
- Standard single Will:
- Standard couples’ mutual Wills:
- Complex Wills (e.g. business assets, overseas assets)
You can also bundle Wills with other estate planning documents for a discounted price.
How do I start?
It’s as easy as 1, 2, 3.
- Send our team an email and let us know your needs by following this link Contact Us
- We will provide you with a detailed instructions checklist for you to complete. Upon review of that instruction, we can provide an accurate quote of fees.
- We can then draft your Will and resend the Will to you for review.
- We can then arrange for signing, binding and finalising of the Wills.