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Wills and Estate Planning

MAKING A WILL

Under recent Queensland case law, it is becoming more frequent for wills to be set aside due to invalid clauses or challenged by those left out of your will. The costs of a professionally drafted will is minimal compared to the emotional and financial costs that can be incurred if you die without a valid will or one that does not effectively carry our your intentions. We advise our clients on estate planning issues to minimise the risk of this and to prevent their executor or beneficiaries having to deal with future legal or financial problems.

Who should have a will?

• Every person over the age of 18 should have a valid will, no matter what assets they own. If you are employed, your compulsory superannuation contributions include a life insurance policy and on your death it will need to be distributed.
• Blended or extended families: Proper estate planning is of particular importance when dealing with blended and/or extended families. People who are considered 'dependant' on you may be eligible to make a Family Provision Application if you have not provided adequately for them in your will.
• Superannuation interests - recording your intentions in regards to your superannuation in your will may be taken into consideration by your superannuation fund.
• Bequests to charities or friends - the proper creation of a will is important in correctly defining who is to receive what assets out of your estate. Improperly drafted clauses may be considered void and struck out of your will altogether.

If you do not have a valid will the rules of intestacy decide who receives your assets, which could result in an unsatisfactory outcome and much anguish for your immediate family.

Our legal team will work with you to create a will that is right for your individual circumstances as well as meeting all legal requirements for validity.