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In Launceston, Australia, a Will & Testament is a legal document that dictates how one's estate will be distributed upon their death. It defines who the beneficiaries will be and what parts of your estate they will receive. It can also entail appointing a legal guardian for underage children. Ensuring that your Will & Testament is legally valid and accurately reflects your wishes is a significant aspect of estate planning.
Although it's possible to write your own Will, consulting a lawyer can help you navigate through the complexities and potential pitfalls. Lawyers can aid with complex estates involving businesses, an extensive property portfolio, blended families or if you wish to leave a portion of your estate to a charity. They can also assist with ensuring the wording is legally accurate, thereby preventing potential disputes.
In Launceston, Wills & Testaments are governed by the Australian legal system. A person needs to be at least 18 years old and of sound mind to write a Will. They are also required to list at least one executor, someone who ensures that the wishes outlined in the Will are put into effect. It's worth noting that Wills can be contested in certain situations, such as if the person was unduly influenced while writing their Will or if it is believed they didn't understand the implications of what they were signing.
Yes, you can name alternate beneficiaries who will inherit your assets if your primary beneficiaries die before you.
Yes, you can amend your will at any time as long as you are mentally capable of understanding your actions.
Yes, in Launceston, your Will must be witnessed by two people who are not beneficiaries.
Yes, under certain circumstances, your Will can be contested, it's advisable to consult a lawyer in creating a robust and clear Will to limit potential disputes.
If a person dies without a will, their property will be distributed according to Tasmanian laws of intestacy, which may not align with their wishes.
The Law Society of Tasmania often have resources about Wills & Testaments and you can also look at the Australian Government's Attorney-General Department's website for further information. Remember, these resources should be used in addition to not in lieu of legal advice.
If you need assistance with creating your Will & Testament, it's generally advisable to consult a lawyer. You can seek recommendations from friends or family or contact the Law Society of Tasmania for a list of practicing lawyers in Launceston. When meeting with your prospective lawyer, don't forget to discuss their fees, your estate's details, and your final wishes.
