Wills and estate planning is an essential activity that ensures your earthly belongings are in good hands after you die. A well-written will ensures that your family is financially stable as they can access your wealth. Besides, it prevents conflict over your inheritance. The following are the key players during wills and estate planning.
These are the people whom you want to inherit your property. You can include your family as well as a few close friends. When deciding how to divide the property amongst them, consider the following:
The executor is an individual whom you endow the legal right of taking care of your property before it is distributed to your beneficiaries. Vital considerations when choosing the executor are:
Deceased estate lawyer.
The deceased estate's lawyer plays a dual role in wills and estate planning. He or she helps in the preparation of the will and distributing your wealth after you die. The key responsibilities of the lawyer are:
Wills and estate planning should be well thought of and not rushed. Consider your beneficiaries' ability to manage the property, choose a trusted individual as your executor and have a lawyer to guide you write your will.Share
10 October 2018
I love watching legal dramas from all different countries. I often call up my friend who is a lawyer to ask her about whether the cases I have seen on the latest drama are realistic or if they wouldn't happen that way in Australia. It's so interesting to me to see the changes that they make to make the stories flow more convincingly as well as the differences between the law in Australian compared to other countries. This blog is for other fans of legal dramas like me and has some tips on the best places to get real legal advice (hint, it's not on the TV!).