Tag: Wills

If the Billionaire Kobe Bryant Died in Australia, Who Will get his Properties? If Kobe Bryant was an Australian, resided in Queensland, and died without a valid Will (“intestate”) the laws of Queensland would decide how his vast estate would be divided. Because he had a wife and children it would work like this; His spouse would receive the first $150,000 of his overall estate and all of the household furniture and chattels.  The remainder of his estate would then...

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...

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? 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...