Making a Will in NSW 

Last Will and Testament — Defined

A will is a legal document that outlines instructions relating to the care of your children and the distribution of your estate, property, and other assets when you pass. Not just this, but a will details specifically who will receive your property (including bank balances) and exactly how much each individual or entity will receive.

A will also names an executor who is responsible for administering your estate when you pass.

I also have advanced experience in drafting Testamentary Discretionary Trusts which provide a greater level of control over the distribution of assets to beneficiaries. In many cases they offer valuable advantages over standard Wills for example:

*Asset protection:

* The ability of beneficiaries to control their inheritance in a way that the assets do not form part of their estate.

This is important for circumstances such as;

*Protecting from Family Court Orders;

*Providing for special needs of beneficiaries with disabilities or any other issues that may affect their ability to manage their financial affairs;

*Providing asset protection if a beneficiary is a company director or a business owner;

*Minimising tax in certain circumstances.

*Maintaining assets within your lineal descendants;

Why you need a Will-to Protect Your Loved Ones

Life today is more complex than it used to be. We own more assets, and property values have skyrocketed. If you’re relying on intestacy laws to handle everything after you’re gone, think again.

When you pass without a Will, your loved ones may face the lengthy and costly process of applying for Letters of Administration just to manage your estate.

Even worse, the lack of clear instructions can lead to tension and disputes among beneficiaries—at a time when they’re already grieving.

As solicitors, we’ve seen even the closest families fall into conflict after a loved one passes. It’s heartbreaking and avoidable.

Family Provision Claims

To prevent people from leaving their beneficiaries without adequate support and potentially relying on government benefits, the law includes protections under Section 57 of the Succession Act 2006.

• A former spouse (even one with whom you’ve had a financial settlement),
• Children,
• Grandchildren,
• Someone who was financially dependent on you at any time,
• Anyone who was a member of your household,
• Or someone with a close personal relationship who provided domestic, emotional, or personal care (other than paid carers)

Your estate could be subject to a family provision claim if you haven’t made “adequate” provision for the “proper” maintenance, education, and advancement of their life.

When such claims arise, the Court considers both the claimant’s and your beneficiaries’ current assets and future needs. This often results in those with fewer assets benefiting the most, which may not align with your true intentions.

To ensure your wishes are respected and your estate is distributed according to your desires, it’s crucial to have a carefully drafted Will that clearly outlines your intentions and anticipates potential challenges.

Creating a Will is a straightforward process. Contact me, and I’ll guide you through it step by step, ensuring your wishes are honoured and your family is protected.