Wills, Probate and Power of Attorney
Wills
A Will is a legal document which outlines what you would like to happen to your assets when you die. To make a valid Will you must be at least 18 years old and you must have legal capacity, which means you must be able to understand the nature and effect of the document you are signing, the nature and extent of your estate, and the people who may have a legitimate claim upon your estate. A Will is essential for every adult with assets, including superannuation.
Probate
Probate is the process of having a Will recognised and validated by the courts. An application needs to be made to the Probate Registry of the Supreme Court for a ‘grant of probate’. Once the grant is made, the Executor can deal with the assets and liabilities of the estate. A grant of probate is necessary if an Executor needs to transfer or sell real estate, and institutions such as banks, insurance companies and superannuation funds generally require a grant of probate before releasing or transferring assets.
Power of Attorney
This is a document where you appoint a person of your choice to make financial and legal decisions on your behalf if you become ill, have an accident, are away from the State or country, or for some other reason are unable to act for yourself. The person appointed is called your ‘Attorney’. You must be over the age of 18 years and have legal capacity to execute a Power of Attorney.
We provide services on wills, powers of attorney (both health and financial),succession planning to ensure our client’s wishes are protected, assisting executors and trustees administering estates the subject of a claim, supporting beneficiaries in defending claims .
We provide you with advice on the most suitable options for you and, we make it happen.