Thinking of your passing can be difficult, the idea that you will no longer be with your loved ones is often something you do not wish to consider. As a result we often put off thinking about our passing, and what will occur once we are gone. When this day comes, it is important that you have your affairs in order, otherwise you risk your estate being dealt with in a manner you never intended and you disagree with.

 

A proper Will assists in preventing unwanted difficulties and allows you to have a say in how your estate is to be dealt with, after your passing. Whilst there is no legal requirement for you to have a Will, if you pass away without one you are said to have died ‘intestate’. This means that your estate is dealt with according to the Succession Act 1981 (Qld). Your beneficiaries are then nominated, and your property dealt with according to the provisions of this legislation. This could result in the forced sale of a family home, or other asset, to meet the claims of your beneficiaries.

 

At CNG Law we are able to assist you with your succession planning including the preparation of your Will, Power of Attorney, Advance Health Directives and Binding Death Nominations. We can encapsulate many, if not all, of your wishes within these documents examples of which are:

• Who is to be appointed guardian for your infant children;

• Directions for your funeral including cremation or burial wishes;

• Appointment of Executors. Being the person who, upon your passing, you entrust to manage your estate and distribute same according to your wishes.

 

If you have previously made a Will and wish to change the terms of same, we can assist you in drafting the documents necessary for your current intentions to be formalised, and the terms of your previous Will revoked. Unless you formally and officially revoke any previous Will your current intentions may not be reflected in your succession planning documents, and this could result in your Estate being divided contrary to your current intentions. It is important to ensure your Will and other succession planning documents are updated, as soon as your wishes or intentions alter. Particularly in circumstances of a separation.

 

Whilst we understand that thinking about your passing can be something that people put off, it is important that you have your affairs in order before you pass away, otherwise you risk your estate being dealt with in a way that you may disagree with.

 

If you are the beneficiary of an estate, or you have not been included in a Will, we are able to offer you clear and pragmatic advices as to your entitlements and the options available to you.

 

If you have been appointed the Executor of a Will, we are able to provide you with advices as to the processes and procedures to be followed when administering an Estate. As an Executor/Administrator you have numerous duties and obligations including, but not limited to:

• Following funeral directions and arranging he funeral;

• Bringing in the assets of the Estate. This can involve dealing with banks, land registries, share registries and other authorities;

• Paying debts of the deceased; and

• Distributing the Estate to those entitled under the Will, or in accordance with Intestacy Rules.

 

If you have been appointed as an Executor, any legal fees you incur in the administration of the Estate may be recoverable from the Estate, which means you are not left out of pocket.

 

Contact our Brisbane office today for advice on succession planning, or advice on the administration of an Estate.