Wills & Estate FAQ’s

Wills & Estate FAQ’s

Wills and estates are relevant to every single person who owns something.

Will and estate planning basically refers to ensuring you have a formal, documented, written copy of what you would like to happen to your belongings if and when you were to pass away.

Belongings that can be included in your will and estate plan:

  • Children you are responsible for
  • Physical assets like your home, vehicles and smaller personal assets such as jewellery
  • Cash
  • Non physical assets such as stocks and shares
  • Digital assets that are transferable, such as videos, websites, e-books, games and social media accounts

Let’s look into some of the frequently asked questions relating to wills and estate planning, and how TY Lawyers Chatswood can help you.

Wills & Estate Planning FAQ’s

  • What Is An Estate Lawyer?

Your estate lawyer works with you in your best interests as the estate owner and for the beneficiaries after your death. A will and estate lawyer, like TY Lawyers in Chatswood, specializes in wills, estates and the process of probate.

  • What Is A Deceased Estate?

A deceased estate is property or possessions along with liabilities and debts of a person after their passing.

Their Will, if available and valid, will provide instructions on how the deceased estate is to be managed and distributed.

  • Who Is The Executor Of An Estate & Why Do You Need One?

An executor of your estate is someone appointed by you to oversee and manage your last will and testament and follow your instructions on your affairs and wishes. It also includes ensuring the correct disbursement of your estate to the nominated beneficiaries as outlined in your will.

As such, an executor is appointed as someone who is highly trusted. When a will is written, the name of the executor will be recorded on the will by the will and estate lawyer.

Estate Planning and Wills – Next Steps

A will and estate lawyer in Chatswood can assist you with all facets of your estate planning.

Some of these things include:

  • Structuring and writing your legal Will
  • Appointing trustees and a will executor
  • Advising you on distribution of your estate
  • Advising you on any tax issues when putting together your Will
  • Any potential guardianship for children

To make a Will you must be 18 years old and be of sound mind.

There must also not be any external undue influence or coercion present when making your Will.

The first step in wills and estate planning is to have your will written by a will and estate lawyer. That way, you give yourself the best chance to take care of your loved ones. Consider TY Lawyers in Chatswood in your estate planning. 

TY Lawyers Will & Estate Lawyers Chatswood

In conclusion, estate planning and constructing your Will are often overlooked, but are vitally important tasks. Don’t delay today and get in contact with our lawyers in Chatswood and make it happen!

Call TY Lawyers Chatswood on: (02) 8007 0135. 

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