Home > Wills & Estates > Wills

Wills - Fact Sheet - NSW

Looking for information about Wills?

Did you know that over 40% of Australian adults are at risk because they don't have a valid Will in place? Do you have a valid Will?

Acting as an Executor can be a confusing and stressful experience. Set out below are answers to some of the most often asked questions.

  1. What is a Will?
  2. Why should I make a Will?
  3. Who can I appoint as my Executor?
  4. What does my Executor have to do to administer my Estate?
  5. Who can I name as beneficiaries in my Will?
  6. If I leave my child, say $100 or nothing at all, can my child contest the Will?
  7. If my Will can be contested, why should I have one?
  8. What if I get married after my Will has been made?
  9. What if I get divorced after I make my Will?
  10. How much will a Will cost me?
  11. Why should I ask the team at Turnbull Hill Lawyers to prepare my Will?
  12. Our Team

Warwick Gilbertson - Lawyers NSW - Turnbull Hill - Wills & Estates

Email Warwick Gilbertson - Lawyer in Newcastle at Turnbull Hill


What is a Will?

Your Will is a written document signed by you, which sets out who is to be in charge of administering your estate (your Executor(s)) and who is to receive your assets (your beneficiaries) when you die.


Why should I make a Will?

Some reasons include: (1) to express your intention as to how your estate is to be distributed; (2) to avoid cost, delay and difficulty for your family in administering your estate; (3) the need to provide adequately for all relevant family members, eg. especially in blended families; and (4) to reduce the potential for dispute.


Who can I appoint as my Executor?

You can appoint whomever you like to be your Executor. It can be your spouse, children, friends, brothers, sisters, your accountant, and even your lawyer. You can have more than one Executor and the Executor can be a beneficiary of your estate.

^Top


 

What does my Executor have to do in order to administer my estate?

Your Executor must identify all of your assets and liabilities, obtain a Grant of Probate (if required), use your assets to pay out all of your debts, and distribute your estate in accordance with what is written in your Will. If your Will is contested, then your Executor is under a duty to defend the Will.


Who can I name as beneficiaries in my Will?

You can name whomever you want as beneficiaries to receive your assets. This can be your spouse, children, grandchildren, friends, brothers, sisters or a charity.


If I leave my child, say $100 or nothing at all, can my child contest the Will?

Yes. Children are eligible to contest Wills. Not all relatives are eligible. Claimants have a set period of time within which they can make their claim and must prove that they are eligible to claim against your estate and have a need for provision out of your estate.

^Top


 

If my Will can be contested, why should I have one?

Your Will is the written record of your intentions as to whom you would like to receive your assets when you die. No other document formally and legally recognises your intentions the way that your Will does.
The only way a person who is not named as a beneficiary in a Will can receive a benefit from the estate, is if all of the named beneficiaries agree to that person receiving something or if a Judge makes a Court Order to that effect.


What if I get married after my Will has been made?

Depending on your circumstances, your marriage may revoke your Will and you should obtain legal advice.


What if I get divorced after I make my Will?

Your divorce will invalidate any gifts to your former spouse and any appointment of him/her as your Executor.


How much will a Will cost me?

This depends on your situation and overall circumstances, what you wish to state in your Will and what you want your Will to achieve. Some Wills can be relatively straightforward, while others can be extremely complex. Once we discuss your personal circumstances and wishes with you, we will know what type of Will we need to prepare for you to properly reflect your intentions. After that initial discussion, we will provide you with a quote.

^Top


 

Why should I ask the team at Turnbull Hill Lawyers to prepare my Will?

We will take your instructions, be thorough in our approach, advise you of any issues that may arise in the administration of your Will (eg. if someone may contest your Will) and prepare your Will to give effect to your intentions. We will keep your Will in safe custody at no additional cost and send you a copy of your Will for your own records.


Do I need an Estate Plan?


Natalie Power - Wills & Estates Lawyer in NSWOur Wills & Estates Team:

Our Promise:

  • Highly professional and friendly service at all times
  • Highly qualified team
  • Complete confidentiality at all times
  • Fast, efficient and courteous service

 

 

Contact Us Now

We respond in 24 hours or less

Please provide details regarding your matter so we can assist you

Enquiry Form

Fill out our enquiry form and we'll respond within 24 hours

Listen to the captcha
 
Publications

If U Don't Make A Will Like Prince, Who Will It All Go 2?

Back > Wills & Estates *** The spelling and structure of this article's title is an ode to the way Prince named his songs *** If like Prince, you die without having made a Will, who will your Estate go to? It is surprisingly not uncommon that many celebrities worth millions die without a Will. Soon after the dea...

Read More ...

Jury Duty - A Guide For Potential Jurors

Serving on a jury is a new experience for most people. Whilst some people see it as an honour, others wish to avoid duty at all costs. The following is a guide of frequently asked questions relating to jury service. Menu Selection and Eligibility Roles and Functions Nature of a Criminal Trial Role of Judge...

Read More ...

Applying for a reconsideration of Comcare's decision to decline liability for your claim

Applying for a reconsideration of Comcare's decision to decline liability for your claim from Turnbull Hill Lawyers Introduction The reality is that Comcare will not accept every claim that is made under the Comcare Scheme... and sometimes its decision to decline liability is the wrong decision, and not support...

Read More ...

What is a Prenup?

What is a prenup? (Prenuptial Agreement) from Turnbull Hill Lawyers An introduction to Prenuptial Agreements (Prenups) Nobody gets married with a view to getting divorced later in life. As such, the benefits of prenups are easily dismissed in the lead up to a marriage. There is an old saying that is applicable here: "Nobo...

Read More ...

What is self-defence?

What is self-defence? Under NSW law a person is not responsible for a criminal offence if the person carries out the conduct constituting the offence in self-defence. It will be "self-defence" if at the time the conduct occurred: the accused believed that the conduct was necessary in order to defend himself or hersel...

Read More ...

| 1 2 3 4 5 6 7 8 9 10 | Next


Events
If you've been injured and you're not aware of your rights

Wednesday 11th May 2016
Time 6:00pm - 7:30pm 11th May


Blogs
"Many thanks John (Teague). Always a pleasure to...

Terry and Carol Callaghan

Liability limited by a scheme approved under Professional Standards Legislation

enquiries@turnbullhill.com.au