Tag: drafting a will

Binding Financial Agreements & Will drafting essentials Will drafting is an important skill to possess as a junior solicitor. Unfortunately, you don’t always get the opportunity to refine your drafting skills in university which makes the leap into real-life practise particularly daunting.  The key question here is; what components are necessary to appropriately prepare wills as a junior solicitor?  After all, a negligence claim down the line could carry dire consequences for you and your principal, especially at the outset of your career.  Making a formal will  It is...

Contesting A Deceased Estate If you believe that a deceased friend or family member’s Will does not reflect their last wishes or are concerned with the circumstances and nature of an updated will, you may challenge the validity of the Will. This situation commonly arises where the deceased friend or family member may not have been in the right state of mind to understand what they were doing, or if a fellow family member has manipulated the person's wishes. To...

For a will to be valid and binding in Australia, the testator (the person making the Will) must have testamentary capacity at the time the Will was created. Testamentary capacity occurs when the testator is of sound mind and must understand:  The nature and effect of the Will; What encompasses the estate; The claims others might have upon their estate. To provide a practical example any individual with advanced dementia, amnesia or severe mental disability will unlikely have the requisite...

Problems while Drafting A Will? Your last Will and Testament are perhaps the most important document you will ever sign. As the nature of this document is so important, it is necessary to ensure drafting a will is done correctly so any assets collected over your lifetime are properly accounted for. Assets such as superannuation, life insurance, and shares of jointly held assets (such as the family home) do not automatically fall into your estate when you pass away. Furthermore,...