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The region of Wahroonga, located in Sydney, follows the New South Wales rules and regulations concerning wills and testaments. When a person dies, their estate is distributed according to their will. A will is a legal document outlining how the person wants their property and assets to be disbursed. If there's no valid will, the law stipulates how the estate should be divided.
Creating a will might seem straightforward. However, certain circumstances demand expert legal counsel. If your estate is significant or complex; involves businesses, overseas assets, or trusts; or if your family situation is complicated, for example, a history of divorce or children from multiple relationships, professional advice is crucial to avoid potential disputes. A lawyer can also help in the process of probate and challenging a will if the need arises.
According to the laws in New South Wales, only those above 18 years of age can create a will unless they're married or have been given special permission by the courts. A will must be in writing and signed by the person making the will (or by someone on their behalf), in the presence of at least 2 witnesses, who also need to sign the document. Moreover, alterations to a will also need to follow these requirements. A will can lose its validity if the person marries or divorces after making it.
If you die intestate (without a will), your assets are distributed according to a pre-determined formula, regardless of what your wishes may have been. This might cause disputes among your loved ones.
Yes, you can write your own will, but it's advisable to get legal help, especially if your circumstances are complex. This will minimize the scope for errors and potential legal disputes.
While you can decide to leave a family member out of your will, under NSW law, certain individuals can contest a will if they believe they haven't been adequately provided for.
It's advisable to revise your will every five years or after a significant life event such as a marriage, divorce, or the birth of a child.
Yes, a lawyer can be a witness to your will. However, a beneficiary or their spouse cannot be a witness, or their entitlement may be void.
Organizations such as NSW Trustee & Guardian, Legal Aid NSW, and LawAccess NSW are great resources for further information on wills and estates. The NSW government website also provides vital information on this topic.
If you need legal assistance with your will in Wahroonga, look for a lawyer who specializes in will & testament law. Have a detailed discussion about your assets, your beneficiaries, and any potential issues that may arise. Once you have a draft ready, ensure it is properly witnessed and signed to make it legally binding.
