Wills and Estate Planning

Your will is one of the most important documents that you can have. Sadly, many people delay preparing their wills until it's too late. 

In order for a person to make decisions about what happens to their property and interests (their estate) after they pass away they need to make a valid will. In order for their will to be valid, the person making the will (the testator) must:

● Have testamentary capacity; 

● Have testamentary intention; 

● Know and approve of the contents of the will; and 

● Meet the formalities required by the law. 

When making a will, you should consider the effect it will have on your estate. This process is called estate planning and our lawyers are able to assist clients in making sure their will is appropriate to their individual circumstances. 

To guarantee a smooth and successful transfer of your assets upon your passing, it is important to engage in estate planning when drafting your will. Our legal services are tailored to the needs of each client. Critical factors to consider when making a will include:

• The assessment of your assets
• Likely taxation considerations 
• The risk of claims against the estate by third parties 
• Asset protection 

At Pera Lawyers, we make the process of estate planning and making a will easy and simple to understand. We guide you through every step and ensure that your assets are left in accordance with your wishes.  

Sometimes a will can be challenged for its validity - for example if the proper procedures were not followed. Alternatively, a will can be challenged pursuant to a family provisions claim in Part IV of the Administration and Probate Act 1958 (Vic). In a family provisions claim, it is possible for an eligible person to challenge the contents of a will (even if it was validly made). An eligible person can apply to make a claim on the assets of a deceased’s estate where:

• The deceased had a moral obligation to make adequate provision for the applicant in the will; and
• The provisions made under their will for the applicant is inadequate given their financial circumstances.

That is, the will can be contested on the basis the will does not adequately take into account the financial needs of someone who has a claim on the deceased’s estate. Some common examples of situations which may give rise to a challenge include the leaving out of a child or spouse or treating children unequally. If you find yourself in this situation, it is recommended that you promptly seek legal advice.