Do you want to make a Will in Melbourne or Victoria?
Who can make a Will?
Why you need a Will?
You can make a Will at our Melbourne CBD office so that your family are financially provided for after you pass away, especially if you have young children or particular preferences on how your assets are to be given to your loved ones. You can instruct the people managing your estate of the tasks required. It also saves the executors and administrators of your estate a lot of time if you have a Will.
But not everyone needs a Will. If you do not have much assets in general, let alone in Melbourne or Victoria, you do not need a Will as there will not be much money in the estate to distribute to people you want to who are called beneficiaries. However, the costs to settle your estate if you do not have a Will may be more than if you have a valid Will.
Generally, you should write or update your Will whenever there is a major life event. This ensures that your Will reflects your situation as much as possible at the time you pass away. For example, if you have bought or sold a home or business you will likely have a preferred way to distribute this asset or proceedings from this asset. Similarly, if you have a new child your Will will likely need to be updated to include them and a guardian for them. In addition, over time you may want to change who receives the benefit from your Will and who will administer your Will as an executor.
If you plan on getting married or divorced, you will generally need a new Will if you already have one.
Failure to have a valid Will upon your death will result in there being an intestacy upon your death, which results in a strict formula being applied as to who will receive your estate. If you do not make a Will, you will not be able to decide who benefits from your estate and the important decisions affecting your estate.
Therefore, you should make a Will if you want to choose who will receive your assets after you have passed away and how much they receive. You can also exclude certain family members provided you comply with the probate rules.
We can draft and witness your Will
Our notary public Kin Wee Chua has been drafting Wills for over 33 years. You can be rest assured we can draft a Will that reflects your needs. In addition, we can make provisions for assets that are not part of your estate, including family trusts and superannuation death benefits, as well as assist in distributing charitable bequests. If you want your Will to reflect your wishes, it is important you consult a lawyer in Melbourne that takes into account your personal circumstances. We will help you appoint an executor, decide who will receive your assets as well as the timing and manner they receive it. We will also ensure that your Will will be binding by asking you questions and ensuring that the Will directly applies to your situation, by including relevant provisions in the Will when we draft it and it is signed in accordance with the rules.
Please call our office on 03 9602 3988 for a quote. Alternatively, please send us an email at chuatan@tpg.com.au.
What are the key rules for making a valid Will?
- Generally, your Will needs to be signed in front of two or more witnesses on each page and using the same pen, at the same time, on the same day. It is important that at least one witness is a lawyer to ensure the Will will be binding. If you are signing your Will remotely using an audio visual link, there are strict rules that are required to ensure the Will is made valid. You should seek legal advice if a Will needs to be witnessed remotely.
- You must have testamentary capacity in that you do not suffer from a disorder of the mind or delusion. Specifically, you must understand what a Will is for, how much assets you have to give and whether there are any particular individuals who are financially dependent on you who might claim against your estate. If you have concerns someone will challenge your Will and claim you did not have the capacity to make the Will, you can have a doctor assess your capacity and sign an affidavit stating you were capable of making the Will, were of sound mind and you understand what you were doing when signing the Will. You should speak to a lawyer if you have concerns about someone challenging your Will and we can take steps to protect your wishes. We may need to find a doctor experienced in making capacity assessments and have them as another witness when you Will is signed.
- Choose someone who will be responsible for giving effect to your instructions as written in the Will. This person, called the Executor of a Will, should want to follow the Will. Usually the selected executor is the person who will benefit the most from the Will. The people who benefit from a Will are those that receive assets and/or money from the estate and are called beneficiaries. It is important to note that even for simple estates, the Executor’s work can be complex as they will need to identify all the deceased’s assets and liabilities, apply for probate, ensure your assets are protected whilst they are sold or transferred, prepare tax returns for the estate, defend against potential claims made against the estate, resolve conflicts between beneficiaries and give out the proceeds of your estate.
- Keep your Will safe. Your will can be revoked or cancelled if it is damaged or destroyed. It will also not be usable if you lose it. Therefore it is important to store it. Our law firm in Melbourne stores Wills that we have made for clients.
What to do when you need help from others to deal with your property whilst you are still alive
You should consider making a power of attorney. Information about power of attorney can be found here. A power of attorney and medical treatment decision-maker appointment can ensure you have someone act in your desired wishes if in the future you are no longer able to do so.
Please call our office on 03 9602 3988 for a quote. Alternatively, please send us an email at chuatan@tpg.com.au. You can read more about what we do here.
