Wills & Estates
Estate Planning - Wills

A Will is a legal document that informs your Executor (the person who organises for your estate to be administered) and your family of your wishes upon your death. Such wishes include the distribution of assets, the guardianship of any surviving children and details as to why you may have specifically left somebody out of your will.

Set out below is some general information to consider when making a will. This is not a comprehensive guide, nor is it tailored to your circumstances.

Need Further Help?
If you need further advice or assistance please contact us so that we can provide you with estate planning advice tailored to your personal situation.

• Ensure that your wishes are clear;
• Decide what you want to happen with your hard earned money;
• Keep heirlooms in the family;
• Make sure that your children are looked after;
• Put in place appropriate financial and tax planning measures;
• Look after your family and loved ones;
• Avoid family squabbles and disputes;
• Avoid the time, stress and money caused by disputes;
• Reduce the heartache for your family; and
• Give you and your loved ones peace of mind.

What happens if I Don’t Have a Will?
When a person dies without a will, the distribution of their estate is left to the system set out by the law. A clear, concise and well-drafted will can reduce disputes and help ensure an estate is distributed in accordance with your wishes.

Can I Just Write Down What I want to Happen?
If you want to create any other will-type document, no matter how informal, you should speak to us. Such documents can create confusion and added costs in your estate, especially now that the law allows informal dispositions and bequests under certain circumstances.

One word of caution – putting stickers on household items and jewellery nominating a recipient is generally futile unless all beneficiaries in your estate agree with the nominations.

Can’t I just use a "Legal Will Kit" from the Post Office?
You would use a Solicitor for the same reason that you would engage a surgeon to carry out your heart surgery. Solicitors are trained in the craft of writing. They also have experience in dealing with family disputes about Wills and they know what can go wrong and how to help avoid problems.

Throughout your lifetime you are likely to accumulate significant assets. You do not want to see all of that hard work wasted away as a result of a badly drafted Will, family squabbles or poor tax planning.

• You should make a new Will if your circumstances change, such as:
  - You change your name, or anyone named in the Will changes theirs;
  - An executor dies, is unwilling to act, or becomes unsuitable because of
  ill-health, age or for any other reason;  - A beneficiary under the Will dies;
  - A specific asset left under the Will ceases to exist, or you sell it or give it away, or put it into a trust or a partnership, or if it changes its character. This applies especially to specifically bequeathed shares in a company which restructures its share capital;
  - You get engaged, marry or divorce;
  - You have children (including adopted or foster children);
  - You enter into or end a de-facto relationship; or
  - Your children have children.

Once you have made a new Will, any previous Will should be immediately destroyed and your Executor notified of your new Will.

If you marry, your existing Will is revoked by that marriage, unless the Will is expressed to be made in contemplation of a marriage, and preferably that marriage. Failure to make such a Will or a new Will after marriage will mean you would die intestate.

Divorce may affect your Will. The impact of divorce is complex and the law is not uniform throughout Australia. If you are contemplating divorce or have just divorced since making your last Will, you should contact us.

Review your Will every 3 years or whenever there is a major change within your family, assets or to the tax laws - this is one of the reasons we provide you with a copy. If you are in doubt about the status of your Will, please contact us.

If you have any reason to change your Will or revoke it or make a new Will without informing your spouse or de-facto partner you may do so, but you should talk to us. Do not add to or delete from the Will after its execution. Any change can have disastrous results. If you want to change even the simplest item, you should consult our office first.

To amend your Will you can either instruct us to prepare a "codicil" (document), which will be attached to your existing Will or prepare a new Will. Depending on the amount of amendments to be made, it is often best to prepare a new Will.

What happens to any Previous Wills?
Your new Will revokes all previous Wills. Provided your new Will has been correctly executed, you should arrange to note the revocation on your old Will(s) by ruling a line through each page of the old Will, and writing on it “Revoked by Will dated XX/XX/XX, presently held at XXX ”. You should file the old Will with the new Will or return it to us for filing. Revocation can also be effected by tearing up your old Will. However, you should record the fact that you have done this, and keep the record with your new Will.

Signing Your Will
We will provide detailed instructions on how to sign the Will and can arrange a meeting to sign it with you if you prefer.

Storing Your Will
In most cases you will have a copy of the Will provided to you by us. You should keep this with your more important documents at home. With this copy please leave a note indicating the whereabouts of the original Will and the date on which you signed it. It is important that your Will is easily found when it is needed. If you have a photocopy of the original Will, it is a good idea to write “COPY” on each page of the photocopy.

Your original signed Will should be kept in a safe place. We have safe custody facilities to store your original Wills, Title Deeds and other important personal papers. You should also notify your Executor of the location of your original Will. It is also recommended that you provide your Executor with a copy of your Will and the whereabouts of the original. If it is lodged with us, unfortunately we cannot take the responsibility of informing executors or beneficiaries on your death of its existence or its provisions.

Need Further Help?
If you need further advice or assistance please contact us so that we can provide you with estate planning advice tailored to your personal situation.