A question often asked is whether you actually need a deceased estate lawyer in Sydney once someone has passed away. A lawyer is consulted when an executor needs help to administer the estate, and although this is necessary most of the time, there are times when you don’t need to consider one at all.
During the estates’ administration, a lawyer will assist in any of the forms necessary to apply for probate, identify and collect all of the assets, determine the legal order of debts to be paid, and consider what potential tax liability the deceased may have had.
Should the deceased’s estate prove to be quite comprehensive and not of a small scale, then it is not likely you will be able to complete these tasks alone and it would be best to consult a deceased estate lawyer instead.
Do you need to plan for your estate?
Proper estate planning is one of the most important aspects of a successful Will and deceased estates. Without a comprehensive estate plan prepared for after death, the future of your assets is endangered and compromised.
It is important to ensure that your wealth reaches the intended destinations and your assets are appropriately proportioned through a Will that has been prepared in advance. The best way to plan for an estate is to consult with deceased estate lawyers in Sydney to help individually-tailor your Will when preparing it.
Essentially, thorough estate planning will save your family and any beneficiaries from further costs, and remove any unnecessary administrative fees or possible tax burdens that could result.
What does estate planning include?
Estate planning is a very detailed process and it includes many subcomponents when putting it together. One of the biggest priorities during estate planning is asset protection, where lawyers will plan around your assets so that they are guaranteed to go to their intended destination.
During this process, with you, we will determine who and how many individuals can be appointed as Executor of your Will, to ensure the success of your Will. Similarly, we will plan for possible illnesses or incapacities which may include considering a Power of Attorney and Appointment of Guardian. Estate planning will also include probate avoidance so that in the future, it will not be necessary for your Will to go before probate court.
Should you contest a Will?
It can often be an extremely difficult decision to contest a Will, and it should only be considered if it is in a viable and permitted situation. Should the circumstances of the Will be recognised as unfair, the individuals included have the right to contest it.
NSW law does permit immediate individuals to the Will to contest it. However there is a strict time frame that must be adhered to. If you are looking to contest a Will, you will have to do so within 12 months of the individuals’ death.
These are some of the situations that will be considered:
Is the Will’s situation considered as grossly unfair?
Are there necessary financial needs for family members to consider?
Did the deceased lack the mental capacity when authorising the Will?
Are there financial dependent individuals of the deceased?
Is the Will unavailable or it is considered invalid?