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Estate planning law in Hurstville, Australia largely falls under the broader New South Wales legislation. This legal area includes planning for the distribution of an individual's property at their death. This could involve the creation of documents that outline which individual, or charitable organization, will receive assets and property, arrangements for the care of dependent children, and preparation for making decisions if one becomes physically or mentally incapacitated.
For many people, navigating estate planning tasks can be a complex and daunting process. Lawyers can provide valuable support in various situations, like drafting a will, setting up a trust, and preparing a power of attorney. If your circumstances involve high-value assets, concerns about tax, a desire to make charitable donations, or complex family dynamics such as blended families, seeking a lawyer's assistance can be beneficial to help you consider all possible scenarios and potential legal implications.
Key local laws relevant to estate planning in Hurstville, Australia typically fall under the 'Succession Act 2006' and 'Trustee Act 1925' legislation of New South Wales. These cover areas such as the requirements for a valid will, how assets outside of the will are treated, and the rights of family members and dependents. Notably, these laws indicate that if a person dies without a will, their assets are distributed according to a pre-determined formula, which may not align with their wishes.
1. What happens if I die without a will?
If you die intestate (without a will), your assets are distributed according to a determined formula laid out by the government, potentially causing disputes among your family members.
2. Can I draft my own will?
While it is legal to draft your own will, it can be risky as you may not fully understand all legal requirements and implications.
3. What is a power of attorney?
A power of attorney is a legal document that allows someone to make decisions on your behalf, usually in the event that you're unable to do so yourself.
4. How often should I update my will?
It's recommended to update your will every 3-5 years, or whenever significant life changes occur, such as marriage, divorce, the birth of a child, or acquiring major assets.
5. Can I change my will after it has been signed and witnessed?
Yes, you can change your will after it's been signed and witnessed, typically by creating a codicil or drafting a new will entirely.
The Law Society of New South Wales provides a ‘Find a Lawyer’ service that can help you locate estate planning lawyers in Hurstville. You can also approach the New South Wales Public Trustee and Guardian for guidance on wills and estate planning. Beyond this, legal advice services within the city of Hurstville, public libraries, and the LawAccess website are all good resources for public legal information.
If you require legal assistance in estate planning, the next step is to find a lawyer who specializes in this field. Seek out recommendations, do your own research, and arrange initial consultations with potential lawyers. Prepare a list of questions, discuss your needs in detail, and ensure you understand the costs involved before deciding on a lawyer to assist with your estate planning.
