What is a will?

It’s a document that sets out how your property is distributed when you die. The purpose of a will is to make sure that the right person gets the right property and there is no dispute. If you don’t have a will then the law says how your property is distributed. This may be different to what you would want or it may be a more expensive way of achieving the same thing.

Even when people take out wills, many people who think they have provided for beneficiaries in the way they intended are unaware of the pitfalls that can arise if a will is not prepared correctly.

What is an estate plan?

A will is often part of an estate plan but an estate plan also looks at other assets that can’t be dealt with in a will. This might include superannuation or a business or a trust. The purpose of an estate plan is to make sure that all of your property no matter how you own it ends up with the right people in a tax effective way.

What is estate administration?

It’s the process of putting a will into effect. It includes obtaining probate, finding assets, transferring or selling them, paying debts and making sure that everything is finalised. Sometimes it’s relatively easy and sometimes it is not. Whether easy or hard it has to be done properly or the executor can be liable or people can miss out on what is rightfully theirs.

We’ve written some articles below about wills, estate planning, estate administration, and some of the issues that arise in these areas.

Estates Services

If you want the safety and security of knowing that your will is going to be effective and distribute your estate according to your intentions, then you should talk to an estates expert.

If you would like to decide how your assets will be divided amongst your family and friends, who will care for your children, or request that your body be disposed of in a particular way, then you should consider making a will.

Estate planning involves the organisation of a person’s legal and financial affairs so that your assets are distributed to your intended beneficiaries in an orderly and tax-effective manner.

Farrar Gesini Dunn specialises in Wills and probate. We appreciate that the probate process is sometimes complex and archaic. We use our knowledge, experience, and systems to make it as easy as possible for you to get through the formal processes and find your new normal.

We understand that dealing with the loss of a loved one is extremely difficult. This loss is heightened when the loved one does not leave a Will or the Will has problems.

A trust is a legal relationship between a trustee who looks after or administers the trust, and a beneficiary, the person who benefits from the trust.

Testamentary trusts are trusts established through a Will. These Wills create a structure that can be incorporated into your Will to give your beneficiaries tax and asset protection benefits in addition their inheritance from you.

Looking for a deceased estates expert to help you after the loss of a loved one?

Will disputes come several different forms. They can be a challenge to the Will by way of a family provision claim, contesting the validity of a Will, or making some other argument arising from promises that may have been made during the lifetime of the deceased person.

You can contest a Will on the basis that you have not been adequately provided for your proper maintenance, education and advancement in life. The exact wording varies from state to state.

If you believe a Will is not valid, then the first thing you should do is to seek information from the executor or the solicitor who made the Will.

FGD can assist executors to defend contested Will claims or challenges to the validity of a Will.

Estate disputes or contesting a will is what happens if someone isn’t happy with what a will says, usually because they say they should have a greater share.

Property that you can distribute by the terms of a Will are referred to as estate assets. If property is not an estate asset then they are not distributable by Will.

At Farrar Gesini Dunn we take innovation seriously. We have been operating for years in a way that has allowed us to work for you wherever we are and whenever you need us to.

Our Estate and Wills Lawyers are here to help.

Get in touch today

pattern-light
Blog view more

Read More

25/07/2022

FGD X ANU Moot

The ANU Family Law Course ran over the winter break. FGD were pleased to partner with ANU to assist students with understanding how litigation works from a family law perspective. To begin FGD Director and ANU Alum, Haydn Marsh, presented a workshop to the students on advocacy. He taught the…

read more

Read More

13/07/2022

Will A Family Trust Protect Assets In A Divorce Property Settlement?

Are trust assets up for grabs when it comes to family law property settlements? It has long been established that the answer to this question depends on the facts and circumstances of each case. The outcome of a leading High Court case in 2008 (Kennon v Spry [2008] HCA 56)…

read more

Read More

23/06/2022

FGD Welcomes Julie Nessworthy and Kate Kensell from Hamish Cumming Family Lawyers

From 1 July 2022, Hamish Cumming Family Lawyers will be joining the Farrar Gesini Dunn team at their Sydney office located at 2 Bligh Street Sydney.  We are excited about this next chapter and the benefits this will provide all of our clients. Kate Kensell and Julie Nessworthy have made…

read more

Read More

26/05/2022

How to Help a Friend or Family Member Going Through Separation or Divorce – 6 Tips to Be a Super Support Person

We all know someone who has been through a separation, many of us have experienced it ourselves. Separation from a significant partner can be lifechanging. It is an incredibly challenging period and comes with strong emotions, grief and loss, fear, worry, never ending questions and, often, conflict with the ex-partner….

read more