Wills and Family Law Fact Sheet

Why should I have a Will?

You decide how your assets will be distributed

The executor of your choice will handle your estate

Your estate will be easier to administer

Everyone should have an up-to-date Will!

What happens to my existing Will if I divorce?

The following applies if you obtain a divorce unless a contrary intention appears in your Will:

Any gift to your former spouse is revoked

If your former spouse was appointed executor or trustee then this appointment is revoked, although there are exceptions.

Accordingly you should ask us about making a new Will... you may appoint someone else as executor and ensure that all your assets are distributed as you want them to be.

What happens to my existing Will if I separate but don’t divorce?
Nothing, your existing Will still stands... therefore you should make a new Will when you separate.

What happens if I remarry?
The marriage generally revokes your existing Will unless the Will was made in contemplation of your new marriage. Depending on the circumstances, a gift to your new spouse in your Will may not be revoked by the marriage.

General
Make sure that your Will says what you want it to say. If it doesn’t, then you need to make a new Will. Cases can be different... please feel free to contact us at Turnbull Hill Lawyers to discuss your situation.

Our Family Law Team have the understanding and experience to listen carefully to your problems and explain things clearly. If you have any questions please call Alan Wright, Warwick Gilbertson, Rebecca Flick, Matthew Carney or Stephen Bourne on 02 4904 8000...your starting point to peace of mind.

BACK

Disclaimer - This article is offered for general information purposes only. It is not offered as and does not constitute specific legal advice or opinion. The accuracy of the information is not guaranteed. You should not act or rely upon any of the information contained within this article without seeking the advice of a qualified solicitor who specialises in the particular area of expertise and jurisdiction that you require.

Wills

Do you know the difference between a Power of Attorney & an Enduring Guardian?

POWER OF ATTORNEY

What is a Power of Attorney?

A Power of Attorney enables you to appoint a person (or people) to be your “attorney”.

What can my Attorney do?

Your attorney can manage your assets for you and can do anything on your behalf that you can lawfully...

What happens to real property upon death, when it is owned with another person?

Real property can be, for example, a house, land or commercial premises. For the purposes of this article let's call real property, "property".

There are two ways you can hold property with another person, ie. Joint Tenants or Tenants in Common. How you are described on the Title Deed with that...

Do you know the affect of divorce or marriage on your Will...

...Power of Attorney and Appointment of Enduring Guardian documents?

Your Will and divorce

Divorce revokes any benefit to your former spouse and also the appointment of your former spouse as your executor, trustee or guardian. Divorce does not, however, revoke an appointment of your former spouse...

If you do not nominate a beneficiary to receive the proceeds of your life insurance...

then it will be distributed in accordance with the terms of your Will.

You may not be aware of this but the proceeds of your life insurance policy will not be distributed in accordance with the terms of your Will if you have nominated a beneficiary of the life insurance policy.

When you take out a Life...

What are an Executor's Duties?

An Executor is the person appointed under the terms of a Will to ensure that a deceased person’s wishes are carried out in accordance with their Will. An executor’s duties include: making funeral arrangements; identifying the deceased’s assets and ensuring their security; identifying any debts including any tax payable;...

| 1 2 | Next

Articles via RSS