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The Importance of Seeking a Wills Lawyer to Formulate a Legal Will

Preparing a will can be a complex process, especially when you take into account the number of factors you need to consider and the added risk of a DIY will not being legally binding. While there are general templates for a DIY will, they typically do not address aspects that are particular to your circumstances. This means that your estate may not be administered properly or, in some cases, be completely invalid.

A competent solicitor for wills will be able to formulate your will so that it has all of the relevant and necessary details.

Why do I need a will?

A will is an important legal document that specifies how you would like your estate allocated in the case of your death. If you pass away without a will or if your will is legally invalid, someone must act as your representative.

There are regulations in place that determine how your estate will be allocated if you die without a valid will; these are referred to as the ‘Rules of Intestacy’. If you want your estate handled in the way that you intend, you must have a legally binding will. Generally, consulting with a wills lawyer while preparing a will reduces the risk of future complications.

How do I make a legal will?

Consulting  a wills lawyer ensures that all of the relevant areas are covered and that the procedure runs as smoothly as possible. When seeking legal advice, it is vital to consider a few critical aspects of your will, such as:

  • Whom do you want to be your executor?
  • Whom do you want to name as your minor children’s guardian or guardians?
  • What are your assets and liabilities?
  • How you want your assets distributed in the case of your death

What is an executor of a will?

An executor is a person in charge of administering an estate in accordance with the wishes of the deceased. Someone else, such as a Public Trustee or a private trustee, may administer the estate if the executor is unable or unwilling to act or if there is no legal will.

What does an executor of a will do?

In general, an executor’s responsibilities include gathering the assets of the deceased’s estate and paying the deceased’s debts. The executor then distributes the remaining assets among the named beneficiaries.

Can an executor of a will be a beneficiary?

Yes, an executor can be a beneficiary in a will. It is very common for an Executor to also be a Beneficiary; often, spouses appoint one another as their sole Executor and Beneficiary. Dr Craig Jensen has sound expertise in Wills and Estates. Whether you’re contesting a Will, administering an estate or making a Will, contact Dr Craig Jensen today to discuss your situation and secure the best outcome.

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