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In Sydney, Australia, a will is a legal document that outlines how your assets will be distributed after your death. This involves the distribution of property, explanation of any debts and how they should be settled, and the care of any minor children or dependents. For a will to be valid, it must comply with the specific requirements under the Succession Act 2006 (NSW), such as being in writing, signed by the testator and witnessed by at least two individuals.
You may need a lawyer to assist with drafting a will, ensuring it fulfills legal requirements, and successfully represents your wishes. Furthermore, a lawyer may be needed to guide executors and beneficiaries through the probate process or to resolve any potential disputes about the will. In more complex situations, such as having overseas assets, running a business, or having blended families, the expertise of a lawyer is highly recommended to navigate the legal complexities.
The key local laws relevant to Wills & Testament in Sydney are outlined in the Succession Act 2006 (NSW) and the Probate and Administration Act 1898 (NSW). The laws dictate requirements for making a will, changing a will, and contesting a will. They aim to protect vulnerable beneficiaries, ensure the deceased's wishes are respected, and confirm that all estate matters are handled responsibly. It's also crucial to note that not providing adequately for dependent family members can lead to court battles, thus, legal advice is recommended when drafting a will.
1. Can I write my own will?
While you have the right to write your own will, it's not recommended due to the legal complexities involved in drafting a legally compliant document.
2. Can I change my will after it's been written?
Yes, a will can be changed any time before death as long as the person making it is still mentally capable.
3. What is probate?
Probate is the legal process where a court confirms a will's validity so the executor can distribute the assets as directed.
4. What happens if I die without a will?
If you die without a will ('intestate'), your assets will be distributed according to the statutory formula, which may not meet with your wishes.
5. Can a will be contested?
Yes. In Sydney, eligible persons can challenge a will under the provisions of the Succession Act 2006 (NSW).
The Law Society of New South Wales, Legal Aid New South Wales and the Department of Justice provide reliable resources and informational material about wills and estates. The New South Wales Trustee & Guardian is a state government agency that provides will making service and can also act as an executor.
If you require legal assistance with a will or testament, your first step should be to seek legal advice from a reputable lawyer who specializes in wills and estates. Ensure to communicate all your wishes clearly, especially pertaining to your assets and the care of any dependents. Remember, preparing a will is an important task that requires thoughtfulness and legal expertise.
