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Wills

Planning for the future and ensuring your loved ones are well looked after is important. You know you need a Will, but it can be difficult to know how to get started and how to navigate those difficult decisions.

Trustees Executors are experienced in helping people to build and protect their wealth and ensuring friends, family and loved ones are protected.

 

What is a Will?

A will is the best way to ensure your assets are distributed in accordance with your wishes. As well as looking after loved ones you can also leave bequests and gifts, give to charities, ensure the family heirlooms are left in safe hands, record your funeral wishes, and appoint guardians to take care of your children.

Writing a Will can be a simple and inexpensive process, one that we are experienced and happy to take you through. Call us to discuss as you may be surprised at how simple and inexpensive it can be.

 

...it is important to get expert advice for your circumstances. Laws relating to relationship property, family and any promises of gifts can be complex...

What if you don’t have a will?

Administering an estate where there is no Will is likely to be very expensive, causing extra stress and financial worries at a difficult time.

Your estate will be dealt with in accordance to the law under the Administration Act 1969 and other applicable legislation. If you don’t have a Will, this can be quite complex and if you have children, your spouse or partner will not automatically inherit all your assets. A full description is below. But if you die without a Will you lose power to have your say, and instead the law decides for you.

This means that loved ones could miss out on their inheritance, and also possibly have to undertake a court application to appoint who takes care of your estate.

In some situations the distribution is clear, however often the position is a little more complex:

If your spouse/partner survives and you have had children – the spouse/partner receives all personal chattels, $155,000 and 1/3 of the remainder. The children receive the remaining 2/3 (in some cases the sale of a family home may be required to effect a necessary division of assets).

If your spouse/partner and parents are living but no children – your spouse receives all personal chattels, $155,000 and 2/3 of the remainder and your parents receive the remaining 1/3.

If there is no spouse/partner, children, or parents surviving – everything goes to other blood relatives such as grandparents, siblings, aunts or uncles or by default to the government.