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A Will, formally known as a Last Will and Testament, is a legal document through which an individual, also known as a testator, can outline how they want their assets distributed upon their death. This includes property, money, valuables, and even custodial rights of minor children. In Parramatta, Australia, the laws regarding Will and Testament are regulated by the legislation of New South Wales, primarily the Succession Act 2006.
While it is possible to create a Will without the assistance of a lawyer, it is advisable to seek legal counsel due to the inherent complexities involved. Unanticipated legal issues may arise such as disputes over the validity of the Will, claims of undue influence or coercion, or issues related to taxation. Having a qualified lawyer can help prevent these issues or manage them should they arise.
In Parramatta, a Will must be in writing, signed by the testator or by someone else in their presence and under their direction, and the signature must be witnessed by two people. A witness cannot be a beneficiary under the Will. Further, the testator must be at least 18 years old and of sound mind. If a Will is deemed to be made under duress or undue influence, it can be declared invalid.
No, a Will cannot be changed after the death of the testator. However, the beneficiaries of the Will, with the consensus of all involved, can agree to vary the terms of the Will according to their needs.
In case a person dies 'intestate', or without a Will, their property is distributed according to the laws of intestacy of New South Wales, which may not align with the person's wishes.
While you can technically write your own Will, it is highly advised you seek legal help due to the complexities involved and to ensure it aligns with legal requirements.
A beneficiary should not witness the signing of a Will as it could potentially make the gift to that beneficiary null and void.
It’s suggested to review your Will every five years or after any major life event like marriage, divorce, or the birth of a child.
The Law Society of New South Wales and NSW Trustee & Guardian provide extensive resources, including advice and legal services related to Will and Testament. It may be beneficial to contact these organizations for further information or assistance.
If you need legal aid related to a Will and Testament, you should begin by identifying and contacting a reputable lawyer or a law firm with experience in Wills and Estates. Be ready with the necessary documents and thoughts on your asset distribution. It's also advisable to discuss this matter with your family and close relations to avoid future disputes.
