Smallwoods Lawyers: Will Drafting Advice
Smallwoods Lawyers Offer a Will Drafting Advice Service Northern Beaches & North Shore
Will advice lawyers Smallwoods Lawyers, located in Brookvale on the Northern Beaches, explains how to draft a will, why careful legal drafting of your will is essential, why it is necessary to seek out the service of a professional will drafting advice lawyer, and why homemade wills – either from online or from the post office, for example - are fraught with danger.
Estate planning – The Perils of Not leaving a Will and the need for wills lawyers who know how to draft a will
Passing away without a will may mean a payout for an un-expecting beneficiary, so you really do need a wills lawyer.
If someone dies and has not left a Will, they are said to have died ‘Intestate’. In these circumstances, the estate or estates must be distributed according to the Laws of Intestacy – to persons that you may not want to have your estate.
For example, Bob, aged 19, was brought up by his mother, a sole parent. His father left him and his mother before Bob was a year old.
They think his father lives in Queensland. Bob lives at home with his mother and is employed as a carpenter. Bob is working on a building site when he has an accident and dies. Bob never made a Will and has no wife or children or even a girlfriend. Under the laws of intestacy, his parents receive his property in equal shares.
His Workers Compensation payout is approximately $480,000, which will be paid to his estate and his father will receive half as stated. This is not what Bob would have stated he did not want this.
It is very important you have a valid Will – signed and witness and the rest – even when you do not own a business or have minimal assets. Many people do not realise this.
Smallwoods Lawyers in Brookvale on the Northern Beaches has advised on Estate Planning matters for over 40 years, and can be executors of a will.
Will advice and planning Your Will - Your Family Depends On It
Securing the financial future of spouse and children is everyone’s priority. The last thing you want to be doing when you, your partner or your loved ones are on their death bed or incapable of looking after the families affairs is discussing or negotiating the family finances. Yet it is one of the most important things you can do.
Failure to plan can lead to disaster – censuring of family members and more. Here’s where wills lawyers Smallwoods Lawyers can help.
- securing your spouse’s financial future
- securing your children’s financial future
- effect of marriage on existing Wills
- effect of divorce on existing Wills
- providing for children from previous relationships
- the need to provide for adult children
- the effect of de facto relationships on existing Wills
- how to best provide for the elderly, unemployed, mentally ill and beneficiaries who may be financially at risk
Your families’ security is too important not to seek advice.
The perils of homemade wills
Homemade wills continue to provide the benefactors with heartache, and because of their complexity, give the legal profession plenty of work.
A home-drawn will contained a provision as follows:
“I give my house to my nephew _____________ on the condition that should he decide to sell my house I request that he give $50,000 to ____________ and ____________”
With this will, the court found the clause was unenforceable as it was too uncertain, because the nephew could transfer the house other than by way of sale and also the payment of the legacy of $50,000 was linked to the decision to sell and not an actual sale. The court also found the condition was couched as a request and not a specific direction or requirement.
So the lesson here is avoid the heartache - always have your will drawn up by an experienced solicitor to ensure that your intentions and wishes will be carried out and has effect.
Estate Planning 101
Smallwoods Lawyers, Brookvale Northern Beaches explain why careful drafting of your Will is essential
Here’s a case study on the matter. The deceased owned farmland that included two dwellings. A will was left naming children, grandchildren and daughter-in-law as beneficiaries. The will left the dwellings to the executor/beneficiary but provided that his daughter-in-law could stay in the second dwelling on the property.
So the question comes - is the daughter-in-law able to continue residing in the property even though the deceased left his assets to other beneficiaries?
The finding in the court was:
(a) The court ruled the will established a license to the daughter-in-law to permit her to reside in the second dwelling. The property would have to be sold subject to the right of the daughter-in-law to continue residing in one of the dwellings.
(b) The court ruled the gift to the executor failed - it was too vague. The dwellings could not be severed from the land which was left to other beneficiaries.
Wills lawyer, Smallwoods Lawyers assists clients on the North Shore and Northern Beaches regions
Smallwoods Lawyers are based in Brookvale and provides advice on all things concerning wills to customers throughout the Northern Beaches – from companies to individuals. They have clients in Pittwater suburbs such as Avalon, Newport, Palm Beach, Warriewood, Mona Vale and Narrabeen, as well as clients in southern peninsula suburbs like Belrose, Brookvale, Collaroy, Dee Why, and Manly and Manly Vale, as well as other surrounding suburbs in the region.
The specialist legal firm also covers the North Shore including Chatswood, St Leonards, Lane Cove, Artarmon, Cremorne, Mosman, Neutral Bay, Willoughby, Crows Nest and North Sydney, plus many more surrounding suburbs.
If you want quality advice on anything to do with estate planning and wills without the expense sometimes associated with city CBD lawyers and other lawyers around the Northern Beaches or North Shore, contact Smallwoods Lawyers today.