	About Seniors Law
	Wills and Estate Planning
	Power of Attorney
	Enduring Guardianship
	Retirement Living
	Prenuptial Agreements/ Cohabitation Agreements
	Superannuation/ Insurance
	Business Succession
	Trusts - Family trusts, Duties of Trustee, etc.
	Advance Directives
	Probate/ Letters of Administration
	Contesting a Will
	Links
	Who We Are
	Enquiries

SHOULD I HAVE A WILL?

Married or single, widowed or divorced, everyone over the age of 18 should have a will. Having a legal will is the only way you have of giving personal property, land and money to the people that you choose after you have died.

It is a common misconception that if you die without making a will your assets and personal belongings will be passed automatically to your spouse, partner or children. They may get less than what you had hoped or expected due to the laws governing how an estate is to be distributed where a person does not make a will. These are known as the laws of intestacy and they vary from state to state.

Making a will, therefore, is an essential step if you want to ensure that an executor of your choice distributes your estate in the way you actually want after your death. An executor is the person legally charged with carrying out the terms of your will.

Making a will is also important as it allows you to provide for minor children, a disabled person or even protect a beneficiary who may become bankrupt. In the case of minor children, you may provide in your will that until the beneficiary becomes of age, your executor may use the beneficiary’s entitlement for the advancement of the beneficiary’s health maintenance and education. Under the terms of a will, a person you know and trust may be appointed to serve as the guardian of any minor children. Appointing guardians in this manner minimises disruptions and stress for your children and family.

The importance of drawing a will to help ensure the future security of your loved ones cannot be underestimated.

ESTATE PLANNING

In essence, an estate plan is a written expression of how you want your assets to be owned, managed and preserved during your lifetime and how you want them to be disposed of upon your death.

It is a common and cruel misconception that estate planning is important for only those with money or who are advanced in age. People become so involved in their daily activities that they give little thought to the consequences of their demise. Others realise the importance of estate planning to protect and provide for their dependents, but do nothing about it or pass away prematurely leaving dependents unprotected.

The consequences of these acts of procrastination can be devastating.

By investing the time now to plan your estate and seek advice on how to eliminate or reduce the potential burden of court fees and taxes, you and your loved ones could save literally thousands of dollars.

If you do not make provision for the distribution of your estate before you die, your estate will be distributed according to an intestacy formula established by legislation. So the question is not whether you will have an estate plan, as every person does in effect have one, but whether you will have an estate plan of your own selection with people you trust in control of that plan.

We provide estate and tax planning for individuals and their families. To advance a client’s estate planning objectives, we make recommendations based on a comprehensive review of the client’s family assets and general situation in addition to the personal desires of our client. Our work involves the preparation of documents (for example a Will) and tools (for example a Trust) that are designed to preserve the client’s wealth and to provide for their eventual disposition.

This page is not intended to constitute or to be a substitute for legal advice. If you wish to obtain specific advice with regard to your situation please contact our friendly staff on (02) 9662 7388 or email questions to reception@kydonsegal.com.au.