Senior couple mountain biking on a forest trail, low angle
WILLS: YOUR QUESTIONS ANSWERED*
I find that there are many commonly and frequently asked questions relating to wills.
Should I have a will?
Definitely. A will is a must as it provides you the freedom of choice in choosing how to distribute your estate, choosing your executor and setting out your `preferred funeral and burial arrangements.
What if there is no Will?
If there is no will the Estate will be administered as an Intestate Estate, and an application for administration needs to be made by one or all of the persons entitled on an intestate estate.The estate will be distributed in accordance with a formula prescribed by law. If there was a will but it cannot be found it may be possible to prove a copy of the will.
What if the Executor has died?
In the absence of a nominated substitute Executor again the application is usually made by the major beneficiary, though this can be a complicated procedure.
What if a beneficiary has died?
In the absence of substitute provisions that part of the estate which is absent a beneficiary may then be distributed on an intestacy basis. It is important to always have a catch all rest and residue provision in the will to avoid such a problem
What if I get divorced spouse?
Gifts to former spouses are void unless it has been specifically stated that it is to remain valid even after the divorce. This does not apply to estranged, i.e. separated couples.
Do I need to go to court obtain a Grant of Probate?
No , only in the rare cases is a Court appearance required, but any dispute may involve court proceedings
What about death duty and taxes?
No duties or taxes are payable due to a death. However some taxes may arise dependant on how the estate is administered, and as such seek legal advice on the proper administration of an estate.
When should I contact a solicitor after a death?
Immediate contact should be made with a solicitor after death by the executor as the will needs to be read as soon as possible so as to ensure that any testamentary wishes as to burial and funeral arrangements are followed.
*(published Inner West Courier)
