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.

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.

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

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.

We are pleased to announce that the experienced team at McSpeddenHarvey has joined with Farrar Gesini Dunn.

Our Estate and Wills Lawyers are here to help.

Get in touch today

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26/03/2021

Holding Cryptocurrencies in your Self-Managed Superannuation Fund (SMSF)

Bitcoin and other cryptocurrencies are getting more media attention, and are also emerging as a new asset class. We observe a growing number of people who trade and hold cryptocurrency as part of their investment portfolio.

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05/03/2021

International Women’s Day 2021

International Women’s Day is coming up next Monday and, although we aren’t hosting any celebratory events at FGD this year, the day is one that we are really proud to reflect on and acknowledge.

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18/02/2021

Collaborative Family Law Firms Unite To Help Clients Caught Up In The Family Law System

Phelps Reid Foster Johnson Lawyers are thrilled to announce that Olivia Gesini has returned to collaborative family law practice as a member of their team. Farrar Gesini Dunn (of which Olivia was a founding partner in 1995) welcome and support Olivia in this endeavour and are equally excited about what this announcement means for clients caught up in the family law system who wish to find a better way to separate.

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04/02/2021

Settle by Sunday

We understand that a separation can be an emotionally and financially turbulent time; and the thought of spending weeks, months, or even years fight through Court can be terrifying. ‘Settle by Sunday‘ is a robust and intensive settlement negotiation that occurs over a weekend, taking conflict and delay out of a separation to reach a resolution.

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