WILLS

Anyone other than minors and persons of unsound mind can make a will.

However, in cases where there is evidence of lack of testamentary capacity, the Court may authorise the making or alteration of a will on specific terms authorised by the Court.

Before you see Sydney Law & Property to prepare a will you should consider the following:

- What assets do you own? This includes house, land, motor vehicles, shares, superannuation, life insurance, household items, jewellery, bank accounts etc.

- Who do you want to inherit your assets and if there are multiple beneficiaries how do you want your assets divided.

- Who do you want to be your executor – this person will be responsible to ensure that your wishes are carried out after your death.

DECEASED ESTATE ADMINISTRATION

When a person dies, somebody needs to take care of their estate. Usually the will appoints an executor(s) and directions on how the estate is to be disposed of and funeral directions.

However, often Probate is required before the executor(s) can take control of the deceased’s estate.

If the deceased has left assets in NSW, an Application for Probate in the Supreme Court of NSW must be made within 6 months of the death of the deceased.

If the deceased person also owned assets in other states then it may be necessary to apply for a Grant of Probate in the other states or apply for the Resealing of the original Grant of Probate.

If a person has died without leaving a will, then you may need to apply for a grant of Letters of Administration from the Supreme Court of NSW.

In either case, once a grant has been made the executor(s) can distribute the estate once the executor(s) has published a notice of Intended Distribution on the Supreme Court of NSW Online Registry. This notice gives other persons entitled to any of the estate 30 days’ notice to make a claim on the estate.

FAMILY PROVISION CLAIMS

If you have been left out of a will or think that the deceased has not made adequate provision for you in the will, then you may be entitled to contest the will and make a Family Provision Claim. In NSW such claims must be made within 12 months from the date of death of the deceased. Otherwise an application for an extension of time to make such an application must be made if outside this time period.

POWERS OF ATTORNEY

A Power of Attorney is as important as making a will. It is a legal document where you give another person (your Attorney) the authority to make legally binding decisions on your behalf if you are unable to make particular decisions for whatever reason, illness or temporary absence from home.

There are two types of Power of Attorney:

- General Power of Attorney; and

- Enduring Power of Attorney.

The main difference between the two is that with the General Power of Attorney the authority ends once you lose capacity to make decisions. The Enduring Power of Attorney continues regardless of the change in your capacity to make decisions.

Call us for a free initial case assessment.