People often start thinking about wills when they get old. It is crucial to think about the benefits of wills early to avoid leaving chaos and confusion when you pass away. Hiring a wills and estates lawyer is essential to getting a valid will and getting peace of mind in your old age. Here are some of the benefits of hiring a lawyer for matters regarding wills and estates.
Intestate Deaths
The first thing your lawyer will do is educate you on the consequences of not drafting a will. The term for not having a will for your estate is intestacy. If you fail to write a will for your estate, the government will decide what happens to your belongings and assets when you pass on. Each state has a different protocol for distributing your estate upon your demise.
The South Australian government distributes your estate based on the provisions of the Administration and Probate Act 1919. The Act states that the government should make its decision based on what they believe to be the deceased's preference. Since the government's actions are not always accurate and they may even choose beneficiaries you would not have wanted, your lawyer will advise you on the benefits of drafting a will.
Drafting a Will
A will is a document that declares what you want to happen to your assets after you pass on. A will has to follow a set of guidelines to be considered valid. A wills and estates lawyer will ensure you meet all the requirements of making a legally binding will.
The basic requirements for making a will are that it should be written or typed and signed by the will-maker. However, the will-maker can direct another person to sign the will on their behalf. The will maker's signature has to be witnessed by two individuals, and these two witnesses must also sign the will.
The Rights of Beneficiaries
An estate lawyer will help you choose the appropriate beneficiaries for your will. Your lawyer will also educate you on the rights of beneficiaries. In many cases, some people come out to dispute wills even if they were not listed as beneficiaries.
The grant of probate protects the beneficiaries of a will. The beneficiaries can only own the property of a deceased person when the executor of the will distributes the estate. The executor holds an estate in trust for the beneficiaries. However, beneficiaries can make a claim in court if the executor does not act diligently. Your estate lawyer will not only help you choose beneficiaries, but they will also act on behalf of the beneficiaries when you pass on.
To learn more, contact a wills and estates lawyer.
Share22 May 2020
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