It is very important that your Will is always current and up to date. Why? If the Coronavirus Pandemic has taught us anything, it’s that the future is unknown and preparation is key. So, why should you update your Will? There are a number of reasons why this important task should be a priority for you. If anyone in your Will has died (i.e. Executor or Beneficiary), they should be removed. If your financial position has changed. If you have...
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...
How To Be an Executor of a Will or Will Administrator of an Estate? When a person creates a Last Will and Testament, they are required to appoint a will executor or Will Administrator who acts to administer the person's estate upon their death. Although many ask: How To Be an Executor of a Will or Will Administrator of an Estate? A will executor or Will Administrator is responsible for ensuring that all outstanding debts and taxes are paid to...
Are you thinking about doing getting a DIY Will Kit? The letters “DIY” seem to apply to just about everything these days, and one area of 'do it yourself that is growing in popularity is the DIY will kit. It’s advisable that we all have some type of will (no matter what), and with the internet making everything so accessible in the modern world, DIY will kit seems to be all the rage. Is a DIY Will Kit Worth It?...
