It's a long agreed upon debate that writing a will is the most prudent thing anyone can do in order to provide for their family for when they have passed on. There are many ways to get a will done in Australia. The process has, in fact, become so easy that there are online apps that can guide as you write it. Using a solicitor to draw up a will can be considered an expensive way to get it done. There are, however, numerous reasons why this could just be your most ideal option. Legally as well as practically, a solicitor provides an easier way of handling many aspects related to your will. You should always use a solicitor to draw up your will if:
You have a complicated family structure
If you or your spouse have kids from another marriage before having your own, a solicitor could be quite useful when drawing up a will. This is because such families can run into future difficulties if the will was not carefully drawn to consider all scenarios. It is also prudent to use a solicitor to write your will if you have a family member with a disability. To effectively reflect the arrangements for a disabled family member in your will can often require the expertise of a solicitor.
You own property and assets in other countries
In this case, it is safer to use a solicitor to draw your will. He or she will carefully draft a will that reflects all your overseas assets and their corresponding recipients. An Individual's family may lose their overseas assets if the will is not properly drawn and everything thoroughly accounted for. The families will also require legal assistance before claiming such assets. In both cases, a solicitor would prove crucial to the process.
You operate a business that is considered part of your estate
It will be difficult for family members to inherit a business if it was not considered part of your personal estate. It is necessary to have a solicitor carefully reflect such a business in your will as solely part of your estate. This way, the business may not be lost to other preying individuals.
If your family will be required to pay tax on any of their inheritances
In some cases, you or your family will be required to pay tax on some inheritances. This varies from jurisdiction to jurisdiction. The trend, however, is that tax is charged on inheritances that exceed certain stipulated values. In this case, a solicitor will be valuable in helping you and your families navigate these tax requirements.
Contact a local professional, such as Young And Muggleton, for more information.Share
6 August 2015
It's no secret that the law is a topic of interest to nearly every one - it's the subject of some of the most popular TV shows, movies and novels in the world. People like the idea of solving a mystery, of justice being served, and of bright and passionate people arguing their cases. If you are dreaming about writing the next courtroom drama, you'll like this blog. It's a collection of the more interesting, different and unique legal news out there - and hopefully something will provide you the jump off point to writing your best piece of work yet.