Estates · Additional Resources

Why make a Will?

By making sure that you have a valid Will, you can distribute your estate in accordance with your wishes. Without a Will, firstly you are unable to plan your estate during your lifetime and secondly you do not have a say on how your estate will be distributed.

How can a Solicitor help?

A Solicitor can prepare your Will to ensure that it is valid. If the legal requirements in preparing your Will are not met, then the Will may be invalid or ineffective and could mean that your estate is distributed, otherwise than in accordance with your wishes.

Prudent Succession or Estate Planning does not only involve the execution of a valid Will.

The law in Queensland allows certain people to claim against your estate if they have not been given adequate provision for their proper maintenance and support. The most common examples are claims made by a spouse, children or other dependents. A Solicitor can advise you on whether there is a possibility of a claim against your estate and how to avoid it.

When planning your estate, it is also important to obtain proper advice on how to acquire and hold assets from a legal point of view to ensure that those assets are left to the people you desire to benefit. Stamp duty and taxation laws need to be taken into account. Consideration also needs to be given to assets held outside your estate, e.g. your superannuation or family trust assets.

Some other points to note

If you have a Will and then marry, under Queensland law, the marriage will completely revoke the Will and it will therefore be necessary to make a new Will.

Separation and divorce can also affect your Will and legal advice should be obtained.

An Enduring Power of Attorney is a valuable tool to compliment most Estate/Succession Plans.