WILLS AND PROBATE

An extract from the opening paragraph of the judgment  in Gray v Gray states:

"Home made Wills are a curse...where, as here, the estate of the deceased is substantial, the Will is opaque and there is no agreement among the beneficiaries, the inevitable result is an expensive legal battle which is unlikely to satisfy everyone. All of this could have been avoided if the testator (the deceased) had consulted a lawyer and signed off on a Will which reflected his wishes. There is no question but that engaging the services of a properly qualified and experienced lawyer to draft a Will is money well spent".

A person’s Will is likely to be one of the most important documents they will make in their life. Having no Will, or a poorly drafted Will, can have serious financial and other consequences for those who are left behind. While there are succession laws in Australia that apply if you die without a Will, the criteria for distributing your assets may not reflect your wishes and the distribution may also result in your estate incurring unnecessary tax liabilities. 

Leaving your estate without a Will can also add additional time, expense and stress for your family and loved ones. Anne can assist you with drafting a simple cost effective Will to take into account your wishes and can advise you on the most tax effective method of distributing your assets and indeed on what assets can be bequeathed by Will. Your Will cannot give away what you do not own. Therefore, while your sole assets are covered by your Will,  joint assets, assets owned by a company, a family trust or your superannuation fund may not form part of your estate.

When someone dies leaving property in NSW an application must usually be made to the Supreme Court of New South Wales for a Grant of Probate or Letters of Administration. 

 Anne can assist clients in:

· Obtaining Grants of Probate of a Will of a deceased person. Probate means proof or validation of the Will.  Evidence is provided to the Supreme Court and, if satisfied the will is valid, it issues a document referred to as a Grant of Probate.  The Grant is made in favour of the executor and is the legal document required to allow him or her to collect and or sell the assets, and distribute the estate to the beneficiaries. Where there is no Will the Court grants Letters of Administration to an Administrator. 

· Administration of a deceased estate on behalf of the executor including liquidating the assets of the estate, paying debts and distributing the gifts to the beneficiaries.

· Claims for commission (financial compensation for their work on the estate) by executors

· Verifying and passing of estate accounts in the Supreme Court, if required