WILLS – DOES THE TERM “GRANDCHILDREN’ INCLUDE “STEP-GRANDCHILDREN”?
A big point of confusion in will disputes is whether “step children” and “step-grandchildren” can be included under the expressions ‘children’ and ‘grandchildren’.
When all else fails, Courts aim to determine expressions in a Will according to the intention of the deceased. In some cases, Courts may look into the nature of family relationships in order to determine the meaning of an expression such as “child”. [...]
If a person does not have testamentary capacity, that is the mental ability and understanding to make a will, the Court has the power to make a Will for that person.
Consider the following scenario.
A person has made a will which leaves all their assets to their spouse. A few years later this person permanently separates from their spouse but forgets to amend their will. Some time later they become mentally impaired and they will no longer have the capacity to alter their will.
If this person were to die, their previous spouse would receive all their assets in accordance with the provisions of the will. No assets would be given to the person’s children or other important people that the person may have intended to have mentioned in their will if they had the capacity to change it. [...]
Wills can be a reasonably simple to a very complicated document dependent on your needs and intended wishes at the date of your death. While the topic of what occurs after is often sensitive and fraught with emotion, our Estate Planning team is comprised of the professionals required to ensure your Will is updated with consideration to your circumstances and the required attention to detail.
We all know the possibility of getting a home made Will kit is a tempting option as it saves both time and money for you, the client, but the Courts have recognised that in the long run, not having a professionally drafted Will often leads to more Will disputes and therefore a loss of money. [...]
Your superannuation can be one of your largest assets and accordingly it is important that your estate plan reflects your wishes on how you want this to be distributed after your death. Unlike your other assets, your superannuation is not usually covered by your Will. The reason for this is that your super is held in trust for you by the Trustee of your super fund.
This means that you should consider the different options available to you to ensure your superannuation is distributed in accordance with your wishes. It is always advisable to seek advice from an estate planning lawyer on which option will be best suited to your needs. [...]
A recent report prepared by Charles Sturt University and the University of Adelaide found that “…roughly half of adult Australians have a Will but nearly half of those who do don’t feel that their Will is up-to-date or adequately expresses their wishes.”[1]
This is surprising, considering that a Will is probably one of the most important documents that a person will ever sign. It also highlights the importance of talking to a Will Lawyer.
A Will is defined as a legal document, and a statement of a person’s wishes that are to be executed when they pass away. The benefit of having a Will is that you get to decide how the assets that you have gained over a lifetime may be distributed. When preparing a Will, it is important that you speak to a Will Lawyer to ensure that it meets all legal requirements and that your wishes are clearly expressed so as to reduce the chance of there being an argument over what your intentions were (who receives what). [...]
